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If you are like most Americans, you are not sure how to invest your money.

You might struggle to pick mutual funds for your 401(k) at work. If you don’t have one, you might hesitate to open an IRA or invest for retirement, even though you know time’s ticking.

A survey by Mass Mutual shows that you aren’t alone. Only 3.9 percent of women and 9 percent of men said they are completely confident about selecting investments to meet their goals.

Richard Thaler, a University of Chicago Booth School of Business economics professor, has documented the investing struggle.

When he showed university employees a list of mutual funds for their 401(k), people simply chose everything on the list. When he provided a different list, they chose all of those funds too. The choices show that many people have no idea how to pick an appropriate blend of stock and bond funds, the most crucial decision of investing.

The financial crisis also revealed painful blunders. One in four baby boomers had 90 percent of their money invested in stock funds. On the verge or retiring, most of their money was hit by the 57 percent loss in the stock market. Yet people who followed a more conservative mixture of 60 percent in stocks and 40 percent in bonds have recovered and then some.

These struggles, however, are not necessary. Anyone who knows how to copy can simply use a new type of mutual fund as a cheat sheet to mimic.

The fund type is called a target-date fund, and 401(k) plans increasingly offer them. You can recognize them because there is a number in the name. More precisely, it’s the year when a person intends to retire. For example, if you are 55 and plan to retire in nine years, you’d select a fund carrying the date 2020 in its name. If you are 45, you’d probably pick the 2030 fund.

If your 401(k) doesn’t offer these funds, you can still find one or copy one. Contact a mutual fund company such as Vanguard, Fidelity or T. Rowe Price and ask for the fund that carries your retirement date in its name. You could plop it into an IRA, or use its description as a model for picking funds in your 401(k).

Say, for example, you think you will retire in about 2020 and have no idea how much money you should put into stock or bond funds. So you decide to look at the Vanguard Target Retirement 2020 fund as a model.

Find details at morningstar.com. Type the fund’s name in the box that says “quote,” and then click on “portfolio” to see how your model fund selects stocks and bonds. The box called “asset allocation” shows it.

You will see that this fund would invest 1.5 percent of your money in cash, 46.8 percent in mutual funds that invest in U.S. stocks, 18.9 percent in mutual funds that invest in non-U.S. stocks (or companies in foreign countries) and 32.3 percent in mutual funds that invest in bonds. This is your basic model to copy, and if you further peruse ’style details” below the asset-allocation chart, you will see how to select funds that prefer either large or small companies.

But be aware that target date funds are designed to help your money grow over time. That doesn’t mean they always grow your money. Because there are stocks in the model, you will likely lose money in years when the stock market is declining and gain money when stocks are climbing.

For example, 2008 was horrible. People with money in the stock market lost 37 percent of it that year, but the target date fund you are eyeing has bonds in it.

Bonds tend to be more stable when stocks are crashing, and the bonds did what they were intended to do: They took some of the sting out of the 2008 slaughter. Rather than losing 37 percent, the stock and bond combo lost 27 percent in 2008. Since then people in this model have had better luck, gaining 23 percent in 2009 and 3.5 percent this year.

Also realize that this one fund is just a good example of a way to invest at your age. There are no exact numbers. Look at “Cat Avg,” or the category average on the right side of the asset-allocation box. This shows you what other target date funds do for people like you, on average. They are a little safer, with 9.16 percent in cash, and 40.3 percent in stocks. If you are more cautious, you could use that model.

Remember also that what’s right for you today won’t be in five years. Target date funds change your stock and bond mixtures every year so you are less prone to large losses as you age. Each year, you should check your model again and tweak your mixture of stocks and bonds to roughly match it.

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Regulators have shut down three small banks in Georgia and California, boosting to 21 the number of U.S. bank failures this year after the weak economy and mounting bad debt brought down 157 banks in 2010.

The Federal Deposit Insurance Corp. on Friday seized the banks: Habersham Bank, based in Clarkesville, Ga., with $387.6 million in assets; Citizens Bank of Effingham, based in Springfield, Ga., with $214.3 million in assets; and Charter Oak Bank of Napa, Calif No teletrak payday loan., with $120.8 million in assets.

The failure of Habersham Bank is expected to cost the deposit insurance fund $90.3 million. The failure of Citizens Bank of Effingham is expected to cost $59.4 million. That of Charter Oak Bank is expected to cost $21.8 million.

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Hewlett-Packard’s new CEO started work this week, but there’s one important thing he probably won’t be doing: testifying live in a corporate-espionage trial involving his former employer.

Apotheker was formerly CEO of SAP AG, the business software maker now on trial over millions of customer support documents stolen from SAP’s archrival, Oracle Corp.

A trial started this week.

Oracle wants Apotheker to testify about what he knew about the now-shuttered subsidiary payday loans. The testimony would have served another purpose beyond stinging SAP: allowing Oracle to pillory the leader of Oracle’s new friend-turned-rival, HP.

But Oracle says HP is refusing a subpoena. HP says Oracle is harassing Apotheker and already has a sworn deposition from him.

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Max & Erma’s in downtown St. Louis will close by the end of month.

Steve Welkener and partner Ed Goergen own the franchise location.

The area’s other two locations in St. Peters and Lake St. Louis will remain open.

The downtown location employs about 30 people, some of whom have been offered jobs at other locations.

The Columbus, Ohio-based chain filed for Chapter 11 bankruptcy protection a year ago this month. Max & Erma’s is poised to be sold to American Blue Ribbon Holdings LLC, a subsidiary of Fidelity Newport Holdings LLC.

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Researchers at the University at Buffalo received a new grant to support the use of tarantula venom as a potential therapy for muscular dystrophy.

The $125,000 grant from the Children’s Guild Foundation of Buffalo will support the work of UB biophysicists testing a protein found in tarantula venom.

According to a UB news release, Frederick Sachs, a professor in the department of physiology and biophysics and his team are working to advance the peptide — called GsMTx4 — to clinical trials and ultimately to gain FDA approval for use of the drug in humans.

The FDA has already approved it as an orphan drug for muscular dystrophy.

The peptide, protected by a U no fax payday loans.S. patent awarded to UB, was discovered about 15 years ago. The Sachs lab is also exploring the peptide’s application to several other conditions, including the cardiac arrhythmias commonly associated with dystrophy, neuropathic pain, Parkinson’s disease and sickle cell anemia, all diseases that affect cell mechanics.

The Children’s Guild Foundation is a Buffalo-based nonprofit organization that advocates and funds rehabilitative health care, research, education and therapeutic recreation programs for special needs children.

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MDM Development Group, developer of downtown Miami’s Wells Fargo Center, took it upon itself Friday to increase access to its new office high rise by having a crew break up a street median without a permit.

Currently, the only legal access into the high-rise garage is via an Interstate 95 off ramp that morphs into Northeast Third Street on the north side of the building.

The median separates the two eastbound lanes of Southeast Third Street and prevents motorists from turning off of Southeast Second Avenue (U.S. 1), a one-way southbound street, and making a quick lane change to go into the garage entrance.

The median appears like it would prevent accidents by not permitting the quick lane change.

A foreman for the workers doing the work on Friday confirmed the crew was hired by the building's owner.

Some nearby stakeholders were upset.

“The improvements the developer is undertaking without a permit from the city is like doing heart surgery on a patient without his consent,” said Akerman Senterfitt attorney Javier Fernandez, who represents Wachovia Financial Center, which already has access to Southeast Third Street.

Representatives of the Wachovia property were supposed to meet with MDM, and officials from the Florida Department of Transportation, the county and the city a few days ago, but the meeting was abruptly canceled.

A call to a representative of MDM Development and city officials was not immediately returned.

Fernandez sent an email to the city Friday asking it to not issue any permits and to “exercise all available remedies to have the project sponsor cease and desist from further modifying the right-of-way.”

“This intersection is the most critical point of access to downtown Miami. It is possible that the improvements requested could adversely impact access to downtown for tens of thousands of office workers, visitors, and residents,” wrote Fernandez in an email to city officials. “We have had recent conversations with other downtown stakeholders and they share our concerns regarding the improvements as currently proposed.”

MDM has submitted new plans to get a permit for the road changes and a light but they have not been approved, according to an email from the city to Fernandez.

“Given that the applicant has proceeded in a fashion that flouts applicable government regulations exclusively for their own benefit, we hope that the city administration will stay any action on the pending permits until the proposed improvements can be visited in a public discussion with all interested parties,” Fernandez wrote.

A new meeting with Wachovia, MDM and others has been set for Oct. 7.

This isn’t the first time MDM Development has been in the spotlight.

MDM partner Ricardo Glas allegedly participated in a payment given to former Miami Commissioner Michelle Spence-Jones related to a proposal to change the name of Second Avenue to Brickell Avenue, according to charges in a case filed against Spence-Jones.

Glas was allegedly asked to make the payment by Armando Codina, whose company was hired to lease the Wells Fargo Center.

Spence-Jones was charged with bribery earlier this year and Gov. Charlie Crist suspended her as a result of that and another case involving alleged illegal activity. Both cases are still open. Neither Glas nor Codina were charged.

Wells Fargo Center is one of three new office buildings in the downtown area. It has Greenberg Traurig and Wells Fargo as its largest tenants.

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Morgan’s Wonderland, PCI Education and WeAreTeachers have launched a national online contest for special education teachers and their students.

Starting Aug. 10, special ed teachers can nominate a student and his or her family for a chance to win a free trip to Morgan’s Wonderland, the world’s first accessible park for special needs children and adults. In addition, the five teachers whose students garner the most votes will receive free educational products from PCI Education. Nominations and votes will be tabulated through WeAreTeachers’ site (www.weareteachers.com). Nominations will be accepted through Oct. 1. Voting will begin Oct. 4 and close Oct. 20. Winning families can receive two-days admission to Morgan’s Wonderland, round-trip airfare to San Antonio and two nights hotel accommodations.

San Antonio-based PCI Education is the country’s leading publisher of learning materials for special needs students. Austin-based WeAreTeachers is a social and business community for educators, businesses, and education marketers Payday advance. Morgan’s Wonderland is a 25-acre park in San Antonio that has rides, playgrounds, gardens and an eight-acre lake. The entire park is geared toward individuals with disabilities and their families and is wheelchair-accessible.

“We’re delighted to be working with PCI Education and WeAreTeachers in spreading the word about our unique and colorful park designed with special-needs individuals in mind,” says Gordon Hartman, head of The Gordon Hartman Family Foundation and driving force in the creation of Morgan’s Wonderland. “The park opened just five months ago, and the response from guests has been overwhelmingly positive. We feel very confident the winning student will have a truly memorable experience at Morgan’s Wonderland.”

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Consumer confidence in the D.C. region has stalled, according to the results of the Greater Washington Board of Trade Mid-Year Consumer Confidence Survey.

Consumer confidence, which had been growing for the past year and a half is now stagnant, mostly because of concerns about the job market.

As measured by the biannual survey, consumer confidence has remained virtually unchanged over the past six months. Since the last survey in November 2009, the Consumer Confidence Index rose only two points. (The survey’s margin of error is +/- 2.83.)

Survey results show that concern about the employment market is holding back overall consumer confidence in the region, with 61 percent of the respondents saying that jobs in the area are “scarce” and hard to find.

When asked about the future, half the respondents predict that the job market will either stay the same or even get worse over the next six months.

“Consumer confidence in our region has barely moved since last November indicating that there is growing trepidation in the economy,” said Jim Dinegar, president and CEO of the Greater Washington Board of Trade bad credit payday loans. “There have been too many disruptions to the recovery to give people confidence through the recession, but confidence will return.”

The percentage of consumers saying it is a good time to make major purchases has remained the same as it was in November 2009, at 43 percent.

Data indicate that homeowners in the D.C. region are a little less optimistic about home values rising over the next six months, dropping from 33 percent to 30 percent.

In contrast to the Greater Washington Board of Trade’s Consumer Confidence Survey, the Business Outlook Survey, which is based on a survey of the region’s business executives, jumped a hefty 18 points, from 68 to 83, between December 2009 and April 2010.

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BP sought to reassure both the general public and investors Friday, saying it has the money to spend whatever it takes to clean up the Gulf oil spill.

"Our first call on dollars is to ensure we do everything we can to get the Gulf Coast back to normal," BP Chief Executive Tony Hayward said on a conference call with investors. "But that still leaves us with plenty of dollars to spend on other things."

An executive on the call noted BP (BP) generated $30 billion in cash flow over the last four quarters.

The spill has so far cost BP just over $1 billion. Estimates as to how much it will ultimately cost range from $3 billion to $40 billion, although that amount would likely be paid out over a number of years.

Hayward said the amount the company is spending per day in the Gulf could be "diminished dramatically" if the cap they put over the well Thursday is successful in channeling most oil to the surface. The success of that cap should be known in the next 24 hours.

He also sought to reassure investors that the company will not only pay its current commitments, but still has enough money to invest in its core business - finding and selling new oil.

To that end, he said the firm is creating a separate organization to deal with the oil spill, so the rest of the company is not distracted.

Hayward expects deep water drilling and oil production to ultimately resume in the Gulf, albeit under stricter safety standards.

President Obama has issued a six month halt to new deepwater drilling pending an investigation into the accident April 20 that claimed 11 lives and a more thorough review of drilling safety and procedures in general.

Some have called on BP to suspend its dividend in the wake of the spill, saying the money should be set aside for clean-up costs and damages rather than returned to investors. Last year, the company returned more than $10 billion to shareholders.

But BP executives said the company has a commitment to not only the Gulf of Mexico and its residents, but to the company’s 80,000 employees, the hundreds of thousands of people that invest in the firm, and the millions who receive the dividend as part of pension plans.

"BP faces this situation as strong company," said Hayward. "We will stand behind all our commitments."

Carl-Henric Svanberg, BP’s chairman, said decisions on the size of the dividend will be made "how they’ve always been," which is based on the financial health of the company at the time. He said final decision on the dividend will be made in late July.

There have also been proposals by U.S. lawmakers to force BP to stop paying the dividend. Svanberg said those proposals are "something we’ll have to follow."

Earlier this week, Sen. Charles Schumer, D-N.Y., and Sen. Ron Wyden, D-Ore., said paying a dividend before the ultimate cost of the disaster has been tallied would be "unfathomable." 

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