Product Description

"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
  

Product Details

• Amazon Sales Rank: #2184298 in Books
• Published on: 1998-12-15
• Released on: 1998-12-15
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 224 pages

Amazon.com Review
If you have access to a company-sponsored retirement plan but are virtually clueless about such things as dollar-cost averaging and asset allocation, The 401(k) Millionaire: How I Started with Nothing and Made a Million--And You Can, Too will provide the information required to begin preparing for your financial future. Written by "regular guy" Knute Iwaszko and business journalist Brian O'Connell, this very readable and quite informative primer outlines all of the basics needed for novice investors to start parlaying 401(k) programs offered by their employers into formidable sums by retirement time. Iwaszko--a former chemist, salesman, and innkeeper with no formal knowledge of the workings of Wall Street--constructed his own seven-figure portfolio by following five ironclad rules: start investing early, maximize your contributions, learn all you can, be as aggressive as possible, and never touch any of your money until retirement. By expanding upon this doctrine, and offering the essentials on various investment vehicles and strategies, he shows how practically anyone committed to the process can create a nest egg for his or her postemployment years, no matter when it was started or how much earned. "Anyone can do it and I'm living proof," he writes. --Howard Rothman

From the Inside Flap
"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

About the Author
Knute Iwaszko 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.

Brian O'Connell 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.

Customer Reviews

Enjoyable and compact
If you are looking at a quick, easy way to learn about 401(k) plans, then pick this up.

Knute Iwaszko does a good job of simply describing what it takes have a successful 401(k) plan. Through "Knutes Knotes" and good commentary, novices to retirement plans will benefit and enjoy. The moral of the book is save as early and as much as you can. As an added bonus, Knute demystifies some of those investing terms that many of us are afraid to ask about.

I wouldn't recommend this book for anyone who is knowledgable with 401(k) plans and investing. This book will just be filled with obvious common sense for them. I feel like I knew a decent amount, and still feel like I took a good deal of information out of it.

Your retirement just may depend upon it.

Just Great!
I write as a retired individual who started investing toward the end of my career. When I was young I was advised to save $20 a month, but to someone who was earning $27.50 a week it was not in the cards. Much later when my company came out with a plan to match up to 10% of my contribution I started saving. Unfortunately travel enticed me more and I routinely dipped into these funds. With all of this, I was still, in retrospect and un-knowingly, following his plan. It does work. Too bad for me, that I did not have sufficient discipline and was not satisfied with reading about "Far-away Places". All in all, everything worked out for the best. Give it a chance and you will be very pleased with the results. Way to go Knute!

A great inspiration to get started now with your 401(k).
Like a good diet or fitness book, The 401(k) Millionaire is a terrific inspiration to get started now, not just saving for retirement but working your money smart. Iwaszko makes it really hard to resist finally getting serious about your 401(k)--I guess because he's got a million good reasons why you should! In fact, excuse me, I need to go max out right now. The 401(k) "makeovers" in the book may be the best part about it. Totally worthwhile read.