**“Equities” means stocks—so your plan offers many stock investment options.** The equity funds hold shares in multiple companies; your employer’s stock is the single-company option.

**For employer stock, my default would be 0% of your voluntary allocation.** Your paycheck already depends on that bank. Holding its stock adds the possibility that employment trouble and investment losses happen together. Being young supports taking market risk, but concentrating in one company adds avoidable risk. [FINRA discusses employer-stock concentration here.](https://www.finra.org/investors/insights/concentration-risk)

For the rest, there are two sensible approaches:

**1. Use one target-date fund.** Putting 100% into a reasonably priced target-date fund can be a good beginner choice: it holds a diversified mix and automatically adjusts and rebalances it over time. Choose based on your expected retirement year and comfort with risk. If you’re in your early 20s today, retiring around 65 would be roughly 2065–2070; the listed 2055 fund may become conservative earlier than you want. Check its actual stock/bond allocation and fees. [SEC target-date fund guidance.](https://www.investor.gov/introduction-investing/general-resources/news-alerts/alerts-bulletins/investor-bulletins/target-date-funds-investor-bulletin)

**2. Build a portfolio from the index funds.** Assuming retirement is decades away and you can tolerate substantial temporary losses, this is an *illustrative* 90% stock / 10% bond allocation:

| Fund | Allocation |
|---|---:|
| S&P 500 Index Fund | 45% |
| S&P MidCap 400 Index Fund | 5% |
| Small Cap Index Fund | 5% |
| International Large Cap Index Fund | 25% |
| International Small Cap Index Fund | 5% |
| Emerging Market Equity Index Fund | 5% |
| Core Bond Fund* | 10% |
| Employer stock | 0% |

\*Check that the Core Bond Fund is broadly diversified, primarily investment-grade, and reasonably priced. Also check whether the international large-cap fund already includes emerging markets before adding a separate allocation.

Those percentages are a starting example, not a uniquely correct answer. Your investment horizon and ability to stay invested during downturns matter more than age alone. If a large decline would make you sell, use a larger bond allocation. Review and rebalance periodically. [SEC allocation guidance.](https://www.investor.gov/introduction-investing/getting-started/asset-allocation)

You don’t need every fund on the menu: several large-cap growth, value, and S&P 500 funds likely overlap. Before choosing between these approaches, compare **expense ratios, underlying holdings, and the target-date fund’s current allocation**. Fund names alone aren’t enough to identify the best choice.