The Smartest 401k Book You'll Ever Read: Maximize Your Retirement Savings...the Smart Way! | 
| Author: Daniel R. Solin
Publisher: Perigee Trade
Category: Book
List Price: $19.95
Buy New: $6.97
You Save: $12.98 (65%)
New (47) Used (16) Collectible (1) from $5.80
Avg. Customer Rating:  16 reviews
Sales Rank: 20973
Media: Hardcover
Number Of Items: 1
Pages: 240
Shipping Weight (lbs): 0.8
Dimensions (in): 8.5 x 6 x 1
ISBN: 0399534520
Dewey Decimal Number: 332.0240145
EAN: 9780399534522
ASIN: 0399534520
Publication Date: June 24, 2008
Availability: Usually ships in 24 hours
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Product Description
The guide readers need to retire richerfrom the international bestselling author of The Smartest Investment Book Youll Ever Read.
In this thought-provoking and innovative new book, bestselling author Daniel R. Solin takes issue with the commonly held belief that participating in defined contribution retirement plans is a no-brainer because of the employer match.
While providing readers with comprehensive, accessible information on the most common deferred compensation plans, annuities, and other retirement-based investments, he shows the 70 million participants currently in those plans how to create the best portfolio with often limited options.
In his straight-forward, no-nonsense style, Solin offers the new rules for investing for retirement and shows readers how to quickly and simply determine their own needs, get control of their assets, avoid scams and sucker bets, discover untapped resources at retirement, and eventually get income out of tax deferred plansthe smart way.
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| Customer Reviews: Read 11 more reviews...
 Excellent Book January 2, 2009
Great information if you want to make the most of your 401(k) plan.
Joshua P. Itzoe, Author of Fixing the 401(k): What Fiduciaries Must Know (And Do) to Help Employees Retire Successfully
Educate yourself December 3, 2008
1 out of 1 found this review helpful
Great book. I wish I would have had this information 20 yrs ago. Well written and well organized. Follow the advice, and you'll do better in the long run. I'm giving it to my working kids to read.
Short and educational for 401K investors October 18, 2008
2 out of 2 found this review helpful
I really enjoyed Solin's little Smartest Investment book, so I decided to check out his 401K book also.
Solin is a DFA advisor so he promotes DFA index funds. He cites some papers which show that investing in DFA funds gives higher returns than using Vanguard Index funds. He forgets to mention that DFA advisors usually charge a 1% ER, so the return of DFA funds must be incrementally higher by 1% over the return of Vanguard index funds invested by the do-it-yourselfer.
Solin correctly rails that 403B's are terrible investment plans for teachers. He cites the case where the NEA was sued for collecting $50M in fees from investment providers.
Solin also points out that the Supreme Court said it was ok for Congress to retroactively change the tax laws for 10 years! This could be the justification Congress needs to begin taxing your IRA's, 401K's, and Roth IRA's not only on the current date, but 10 years retroactively! Very interesting food for thought.
Solin also correctly advocates that 401K funds should have to divulge actual expenses incurred versus hiding them so the investor can't find them.
One thing that Solin did not provide was a rule of thumb for deciding whether to invest in a high cost 401K investment or use a low cost taxable investment. I have seen some rules-of-thumb saying that if the 401K investment has total expenses over about 2% ER, then skip the 401K and go to a low cost taxable investment in index mutual funds.
Other than recommending DFA funds over Vanguard funds, I don't disagree with any of the 401K advice Solin gives in his book. If a DFA advisor with the 1% fee is what you need to control your behavioral finance tendencies to sell low and buy high.......then the 1% fee is probably worth it.
All in all, a very educational and short read for 401K investors.
If you are interested in learning more about index funds and investing, check out some of the books below.
Index Mutual Funds: How to Simplify Your Financial Life and Beat the Pro's
The Richest Man in Babylon
Bogle on Mutual Funds: New Perspectives for the Intelligent Investor
The Millionaire Next Door
The Four Pillars of Investing: Lessons for Building a Winning Portfolio
A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing, Ninth Edition
The Coffeehouse Investor: How to Build Wealth, Ignore Wall Street, and Get On With Your Life
The Bogleheads' Guide to Investing
Wealth: Grow It, Protect It, Spend It, and Share It
Retirement Income Redesigned: Master Plans for Distribution: An Adviser's Guide for Funding Boomers' Best Years
 good but you need some background experience October 12, 2008
1 out of 1 found this review helpful
i like this book ... but it really assumes you know a little bit about investing. the clear " take home" message is accentuated at the end of every chapter, which is nice.. but i still felt a bit stupid as i read it.
i think it is a good book.... easy to read... but not the " omg" i had hoped for.
Short and to the point September 30, 2008
1 out of 1 found this review helpful
Very helpful. Concrete information, easy to understand. I've recommended it to several friends. Good info for teachers w/403b accounts.
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