The Great 401(k) Hoax: Why Your Family's Financial Security Is at Risk, and What You Can Do about It (Paperback) (ISBN-13: 9780738208527)

According to business and finance journalists Bill Wolman and Anne Colamosca, the American public has been hoodwinked: 401(k)s, the most popular mechanism for retirement investing, were established to satisfy corporate, not individual, interests. They are replacing defined benefit-pension plans at an alarming rate and are vulnerable to the vicissitudes of the market, which -- if history serves as our guide -- is destined for at least a decade of lackluster performance. Drawing on primary historical and contemporary data, Wolman and Colamosca build a compelling case against the 401(k) as a tool for ensuring long-term financial security. They urge individuals and families to diversify their savings and investments, building conservative portfolios that include bonds, high-dividend stocks, and savings. In the process, they explore the colorful social history of our love-hate relationship with the stock market and address many key questions facing any family today, such as: How do I accumulate enough wealth to educate my children and retire comfortably? How secure are my sources of income and how can I anticipate change? Timely and incisive, The Great 401(k) Hoax is guaranteed to inspire debate and action from the water cooler to the boardroom to the voting booth.

Author: William Wolman,Anne Colamosca
ISBN-10: 0738208523
ISBN-13: 9780738208527
Publisher: Basic Books
Language: English
Published: 04/03/2003
Pages: 272
Format: Paperback
Weight: 0.73lbs
Size: 8.88h x 6.05w x 0.76d