The 401(K) Millionaire How I Started with Nothing and Made a Million and You Can, Too

by Iwaszko, Knute; O'Connell, Brian

• ISBN13: 9780812991864
• ISBN10: 0812991869
• Format: Paperback
• Copyright: 1998-12-15
• Publisher: Villard

Summary

"If you, a regular Joe like me, are not a movie star or an overpaid professional baseball player or a lottery winner or a high-powered executive, what are your chances of becoming a millionaire? Better than you think--much better. And you don't have to strike oil to do it. The secret? It's not glamorous, but it is simple, and almost foolproof, because the math is in your favor. It's my story, and the story of others who are quietly amassing 401(k) fortunes--and the simple plan to make your story my story. " A surefire plan for financial independence--through bull and bear markets. Knute Iwaszko--by turns a chemist, a salesman, and an innkeeper--made a million dollars without robbing a bank, without an inheritance, and without a Silicon Valley startup. He made it in a reliable but thoroughly new-fashioned way: by maximizing the potential of his 401(k) plan--and now he's going to tell millions of people how they, too, can become millionaires. This book will thoroughly explain the ins and outs of how 401(k) plans work, including tax benefits, contribution requirements and limits, withdrawal limitations, and risk management--and then fully describes "Knute's Unbeatable, Unbreak-able Rules for Making It to a Million": a foolproof formula that gives readers a step-by-step regimen for maximizing the potential of their 401(k) plans. With simple, accessible language and clear, detailed steps for financial success, The 401(k) Millionaire is required reading for anyone who wants to make the most of his or her money. "If you follow my five simple rules for 401(k) investing, there's no doubt in my mind that you can end up a 401(k) millionaire, too. Allow me to demonstrate how it's done . . ." 401(k) millionaire Knute Iwaszko's practical, surefire plan for financial success includes such topics as: How I Became a 401(k) Millionaire The 401(k): Your Personal Money Machine The Perils of Procrastination Maxing Out: More Money for You--and Less for Uncle Sam Learning the Ropes: Your Inner Savvy Investor Be Aggressive: Your Retirement Depends on It Knute's Recipe for Success From the Hardcover edition.

Author Biography

<b>Knute Iwaszko</b> has been a chemist, a salesman, and an innkeeper--and now manages his investment portfolios from the home he shares with his wife at the Jersey shore.<br><br><b>Brian O'Connel</b>l writes on business and personal finance for TheStreet.com, Financial Planning, the Bos-ton Herald, and Investor Relations, among other publications.  He has worked with leading financial planner Jonathan Pond on The New Century Family Money Book, as well as on articles, newsletters, and television and radio projects. He lives and works in Framingham, Massachusetts.<br><br><br><i>From the Hardcover edition.</i>

Table of Contents

Introduction: Where Wall Street Meets Main Street	p. vii
How I Became a 401(k) Millionaire	p. 3
The 401(k): Your Personal Money Machine	p. 13
The 401(k) Plan: A Look Under the Hood	p. 29
Investor, Know Thyself	p. 49
Waiter, I'm Ready to Order	p. 69
The Risk Factor: An Investment Strategy to Help You Sleep Better at Night	p. 93
The Perils of Procrastination	p. 119
Maxing Out: More Money for You--and Less for Uncle Sam	p. 133
Learning the Ropes: Your Inner Savvy Investor	p. 145
Be Aggressive: Your Retirement Depends on It	p. 165
Loans and Other Strategies: Never, Ever Cash a Penny Out Before Retirement	p. 185
Knute's Recipe for Success	p. 195
401(k) Plan Samples	p. 207
Investment Glossary	p. 213
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