McK. We could be in a primary bear market right now. The crashing of the Transportation Avg. just confirmed with the Dow leading the way down. Probably to late sell.
I know you said 401K. All I can share with you is buy 1 oz. gold coins, especially if you have kids, or plan to have them. Best place I have found is www.bulliondirect.com. I suggest gold coins over gold stocks (GLD) because people tend to hold on to their gold coins over long periods of time, not trade a stock. Also you actually hold the metal, which in the end, is where the rubber meets the road.
Put them in the safe deposit box and forget about them. No need to buy all at once, deflation could temper the price of gold in the near term. Long term, 5, 10, 15, 25 years (again, this is for the kids!), gold should be much higher than about $850 oz.
JMHO, GLTU