If you belong to a 401k you should be able to speak to an Account Manager or a Fund Advisor. They won't give you the name of the stocks and bonds you should invest, but will be able to guide you on how to invest your money such as an aggresive fund, low cap, etc. Google the stocks or bonds you currently invest in and educate yourself. You might want to ask if you can change funds. The stock market is hurting everyone in this economy, but if your plan is being matched, it is a much better investment (for the long term) than a savings account. Also, with most companies you are fully vested after 5 years which means if you leave the company you can keep the money you invested and the contributions made by your employer. You need to stay in it for the long haul. just educate yourself and talk to an advisor that holds your account.

Aigret247 thanks for replying. I'll talk to the Account Manager or Fund Advisor. But first off I should educate myself about 401k. Thanks

There are prospectus and history usually located on the web for your account... There is also a Registered Investment Advisor you can speak with... the administrator can point you to that person.
If loss of $ is what you fear right now, most if not all plans offer a stable value fund.. or money market account with a guaranteed rate of return(not much 2-3% annually) but this will not lose $
If you are young, you can buy shares now while they are low, and hopefully see significant gains when the market returns to normal...

Buying shares? I'm totally new to that. I have been thinking of investing into stocks but have no clue, how or where to do that.

That is what your $ does--- whatever you choose to invest in, is purchased-- in shares--with the money taken from your check---- you buy it for th at days market price, and you own that # of shares...the share price changes every day the market is open... this is why your balance changes.
Lets say you put in $20 per check.... the day that $20 goes in you purchase shares of the stock of your choice... say today they are $2 a share. so You puchased 10 Shares with your $20 contribution. Tomorrow each share could be worth $3-- making you balance $30 Or it could go down to $1 a share, making your balance go down to $10---
This is the misunderstanding most have, they see only a balance.. Once the $ is in there it is in shares of stock, bond, mutual fund whatever... the balance changes daily based on the SHARE price... it is complex but the administrator should have a customer service to help you understand./ that is actually what I do.. so let me know if you need more info!