Your 401(k) is probably set up to invest in what's known as a target-date fund, where you pick a year (often rounded to the nearest one divisible by 5) you want

Your 401(k) is probably set up to invest in what's known as a target-date fund, where you pick a year (often rounded to the nearest one divisible by 5) you want to retire, and the fund manager allocates among various risk asset classes based on that. Almost always, the further away you are from retirement, the more risk you can take; when you near retirement, it's probably almost all in bonds and other less risky assets. Sometimes employer-managed 401(k) fund managers take a much larger management fee compared to, say, Vanguard, which adds up over decades, so you could be mad about that.