Save My 401(k)!: What You Can Do Now to Rebuild Your Retirement Future
This book shows you how to recover your losses-and rebuild your future.\ Like millions of Americans, you watched helplessly as the economy plummeted-and took with it a large chunk of your 401(k) plan. And now you wonder if you'll ever regain your losses. Here's the good news: You can, and will, rebuild your 401(K) savings with this step-by-step action plan from renowned retirement finance expert, David Rye. Learn how to:\ Recover the money you've lost\ Reassess your 401(k) options\ Reverse...
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Easy-to-follow action plans for reversing retirement investment losses and rebuilding wealth for the futureSave My 401(k)! provides critical care to stop the hemorrhaging of your nest-egg dollars, stabilize assets, and rebuild wealth for the future. The book's assessment tools help you pinpoint the best approaches for achieving long-term goals while being able to customize your 401(k) game plan for future times of economic uncertainty. A "Putting It All Together" section at the end of the book gets readers ready to hit the ground running with checklists and other tools for confident, winning retirement investing. About the AuthorDavid Rye, M.B.A., is a former executive and founder of the Computech Corporation, which specializes in the development of human resource retirement software. Rye now writes about retirement-related subjects full-time
Preface ixAcknowledgments xiPart 1 Understanding Your Plan 1Chapter l Getting to Know Your 401(k) 3How 401(k)s Work 5The Economy and Your Future 6What's in Your Plan? 7401(k) Advantages and Disadvantages 10Rolling Over Retirement Accounts 13Replacing a 401(k) with an IRA 15Chapter 2 Investment Options 23What Are Your Options? 23Option Fees 24Where Funds Fit In 25Option Categories 27What Is Your Risk Tolerance Level? 30Diversifying Your Investments 36Choosing Your Options 37What to Watch Out For 41Chapter 3 Know Where You're Going 45Determining How Much You'll Need 46Getting Advice 49Setting Retirement Goals 51Boomer Retirement Strategies 52Generation X Retirement Strategies 53Generation Y Retirement Strategies 55Retiring Home Free 55What to Watch Out For 58Part 2 Investing for Retirement 61Chapter 4 Finding the Money You'll Need 63Where to Look 63Spend Less 67Create a Savings Goal 68Get Rid of Debt 69Set Up a Budget 71Earn Extra Money 73Chapter 5 Making Good Investments 77Timing the Market 79Using Online Tools 85Separating Winners from Losers 89Assessing the Risk-Reward Relationship 91Tracking Your Investments 93Using Brokers 94What to Watch Out For 97Chapter 6 Investing in Stock Funds and Bond Funds 101Stock Fund Basics 102Why Invest in Stock Funds? 103Making Money in Stock Funds 104Bond Fund Basics 105Why Invest in Bond Funds? 107Making Money in Bond Funds 108Where to Find Quality Funds 112Chapter 7 Investing in Index Funds 117Index Fund Basics 118Exchange Traded Fund Basics 119Target-Date Index Fund Basics 120Why Invest in Index Funds? 122How to Find Quality Funds 122Automatic Investing in Funds 126Expense Ratios and Fees 127Part 3 Managing Your Retirement 131Chapter 8 Getting Ready to Retire 133What to Do Right Away 134Decide When to Activate Social Security 136Sign Up for Medicare 138Minimize Your Taxes 140Estimate Your Cash Flow 142Reallocate Your Assets 144Deal with Inflation 145Make Hard Choices 147Chapter 9 Making Your Money Last 151A Lifetime of Money 152Check Your Investment Mix Appreciation 153Asset Alternatives 155Annuity Options 161Reverse Mortgage Options 162Returning to Work Options 164Chapter l0 Setting Up Your Estate Plan 167What's an Estate Plan? 167The Difference Between Wills and Living Trusts 169Setting Up Wills and Living Trusts 171Preparing Your Own Will 173Selecting Beneficiaries l75Power of Attorney and Health Care Directives 177Estate Tax Considerations 178Part 4 Putting it All Together 181Chapter l1 Applying Everything You've Learned 185More Big Changes Are Out There 186Know Where You've Been 187Know Where You're Going 189Know How to Get There 189Know What to Do When You Get There 190Have a Good Journey 192Glossary 195Online Resources 199Index 205
