Resumen
During the 1990s, millions of working Americans put aside part of their salaries into 401(k) retirement savings accounts. These workers were generally rewarded with annual double-digit investment growth. But then corporate accounting scandals and a stock market roller coaster ride put many of their retirement plans on hold. Now they realize that 401(k) investing isn't foolproof. And they're scared.
In response, Congress enacted the most important investor protection law since the 1930s. The new 2002 law reforms many corporate and accounting practices that are key to the health of retirement savings in 401(k) accounts. Unfortunately, there are limits to what the new law can do to protect 401(k) accounts. They are still open to stock market declines, taxes, divorce, and poor estate planning.
To keep their retirement savings growing and safe, 401(k) account investors need to take action. How to Protect and Manage Your 401(k) emphasizes the benefits of 401(k) accounts while paying special attention to risk tolerance, diversification, and the factors that 401(k) plan participants should consider in allocating their retirement savings across their investment options. It also includes how 401(k) accounts may fare in the hands of tax collectors, divorce lawyers, and heirs. This book explains the steps to take now to minimize the damage in each of these scenarios.
Today's 401(k) account investors are looking for authoritative answers and reassurance. Elizabeth Opalka, a tax attorney in Albany, New York, provides both.
