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THINK SMART Helpful tips for your everyday life

Does your 401(k) need a manager?

About 42 million Americans participate in 401(k) plans, yet many workers don't have the time to study the investment options. Now, employers are stepping in to help by offering managed 401(k) programs.

"This is great for 'reluctant' investors, folks who don't want to spend a lot of time with investing," says Jeff Maggioncalda, CEO of Financial Engines, one of a handful of companies that manage 401(k) accounts. His firm handles accounts at corporations including Alcoa, J.C. Penney and Motorola.

To sign up, Financial Engines asks employees to check a box on the enrollment form it provides or call one of its investment advisers. The company will start to manage the account immediately, reallocating portfolios, if necessary, by choosing specific investments from the 401(k) offerings. The cost to the worker: about $4.25 a month for every $10,000 in the account. The employee can opt out at any time.

"To the extent that the managed account provider can yield higher returns than the employee could otherwise achieve, or provide peace of mind, or get the employee saving for retirement sooner, these fees may be worth it," says Brigitte Madrian, a professor at the University of Pennsylvania's Wharton School who studies 401(k) participation.

So far, about 20% of all companies offer managed 401(k)s. If a managed account program is not available at your job yet, sit tight. Says David Wray, of the Profit Sharing/401(k) Council of America: "It is likely that within a few years, most companies will have some way for employees who don't want to make the investment allocation decision to have someone do it for them."

Sharon Epperson is CNBC's personal finance correspondent.

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Sauce packs a punch

This spicy, bright-red applesauce boasts extra antioxidants (concentrated in the apple skins) and antibacterial activity (in the cranberry juice). As a bonus, cinnamon helps blunt sugar's ability to spike blood glucose. It's an easy alternative to traditional cranberry and apple sauces for your holiday feast.

Holiday Cranberry Applesauce

3 pounds cooking apples, such as McIntosh or Rome, cored and sliced (do not peel)
1 1/2 cups cranberry juice cocktail
2/3 cup red hot cinnamon candies (available in cake-decorating aisle)

In a large pot, combine all ingredients. Bring to a boil. Cook over medium heat, covered, 15 minutes. Lower heat; simmer until apples are very soft, about 20 minutes. Cool slightly. Transfer to a food processor with the knife blade; process until smooth. Serve warm, chilled or at room temperature. Serves 10.

Per 1/2-cup serving: 127 calories, 0g protein, 0g fat, 33g carbohydrates, 3g fiber, 4mg sodium.

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Charities can use your frequent-flier miles, too

For your holiday giving: Most major airlines have miles-for-charity programs. Here are four.

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Men, get a baseline PSA

A Harvard study published this year in "The New England Journal of Medicine" followed 1,095 men (median age: 65) who underwent surgery for prostate cancer over a 13-year period. The men had had their prostate specific antigen (PSA) levels checked six to 12 months before, and then immediately prior to, their diagnosis of cancer. That gave the researchers an idea of how rapidly PSAs were changing at the time of diagnosis. The study found that men whose PSAs rose by more than 2 ng/ mL in a year were nearly 10 times as likely to die from prostate cancer as men whose PSA velocity was less than 2. So, guys, get your baseline PSA reading -- it's vital to your health!