On the subject of whether or not to like the Fidelity Freedom K Funds: sure they are too complicated on the inside and some think they house a lot of Fidelity's "dogs", but I don't see important differences between the very simple, low cost index
Freedom Funds and the others:Fidelity Advisor Freedom 2035 Fund (FATHX.lw) ER 1.02% <--23 funds (per M*) or more.Fidelity Freedom K 2035 Fund (FKTHX) ER 0.62% <--26 funds!Fidelity Freedom Index 2035 Fund (FIHFX) ER 0.19% <--5 index funds
Despite the striking differences in the underlying fund selection of each Freedom Fund that I charted (i.e. 26 funds vs. 5 index funds), there is no difference in total bond weights or total U.S. and foreign weights. As such, they behave
exactly the same. You could do far worse than investing in your 401k Freedom Fund.
Notice that I used the 2035 funds because they have at least 20% bonds (although M* shows almost 30% total bonds and cash which can't reconcile with Fidelity's information.) This forum regularly recommends that one invest in a lifecycle fund (like your Freedom series) based on willingness, need and tolerance for risk. I wouldn't invest in the 2050 fund with it's 90%-ish
stocks without being willing to stomach up to a 40% drop in value during the next crisis (there's always one around the bend...) Not that 90% stocks is inherently bad. It's whether or not you
can stay the course.
Your costs and the stock-bond relationship produce the largest impact on portfolio behavior and performance. Fund selection
Rick Ferri's research for The Power of Passive Investing
and John Bogle's Cost Matters Hypothesis
, as he cleverly calls it, suggests that over decades the lower cost index
Freedom Funds will most likely to win in the end, but you don't have them in your plan and we cannot know if we can structure something like it for you until we can see the correct 401k information (don't feel bad, we know you're working on it) and until we can see it in the context of any other investment accounts, as recommended in Laura's tips for Asking Portfolio Questions
But I'd say your okay with a Freedom Fund for the time being, if not indefinitely.