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The Retirement Challenge: Will You Sink or Swim?: A Complete, Do-It-Yourself Toolkit to Navigate Your Financial Future [NOOK Book]

Overview

“Imagine that you board an airliner and are told that you will be piloting the plane. Such is the plight of tens of millions of Americans, on whom have been foisted a jumble of 401(k), 403(b), and 457 defined contribution plans, and are as well qualified to manage their retirement portfolios as they are to pilot a jet from Los Angeles to Boston. Since things aren’t changing any time soon, you may very well need flying lessons, and pronto. Frank Armstrong’s The Retirement ...

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The Retirement Challenge: Will You Sink or Swim?: A Complete, Do-It-Yourself Toolkit to Navigate Your Financial Future

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Overview

“Imagine that you board an airliner and are told that you will be piloting the plane. Such is the plight of tens of millions of Americans, on whom have been foisted a jumble of 401(k), 403(b), and 457 defined contribution plans, and are as well qualified to manage their retirement portfolios as they are to pilot a jet from Los Angeles to Boston. Since things aren’t changing any time soon, you may very well need flying lessons, and pronto. Frank Armstrong’s The Retirement Challenge: Will You Sink or Swim? is just the ground school you need.”

—William Bernstein, author of A Splendid Exchange: How Trade Shaped the World and The Four Pillars of Investing: Lessons for Building a Winning Portfolio

“Armstrong and Doss have written a simple and understandable guide through the maze that is our financial world. If your goal is to outperform the vast majority of investors on the road to retirement, The Retirement Challenge: Will You Sink or Swim? paves the way.”

—TAYLOR LARIMORE, coauthor of The Bogleheads’ Guide to Investing

“This is a great handbook for those planning for retirement. Armstrong and Doss not only tell you the right way to build a plan, they also show you how to avoid purchasing products from the wolves of Wall Street that lead investors to be sheared like sheep.”

—LARRY SWEDROE, author of The Only Guide to Alternative Investments You’ll Ever Needand Wise Investing Made Simple

“In today’s investment markets, this is an invaluable book. If you care about the quality of the rest of your life, you owe it to yourself and your family to read The Retirement Challenge: Will You Sink or Swim?

—HAROLD EVENSKY, CFP®, AIF®, President, Evensky & Katz

In 48 quick, practical lessons, Armstrong shows how to assess what you have and what you’ll need to build a simple, reliable retirement plan. Better yet, the book’s easy online calculators do all the math for you. Investing for retirement has never been so sensible and simple! Includes free access to comprehensive Web-based tools and resources at Sink-Swim.com:

  • More than 75 easy-to-use online calculators and budget spreadsheets to help you get on track and stay on track
  • Sample asset allocation plans you can adjust for any stage of your career and any portfolio
  • Up-to-the-minute updates on pension law, regulation, enforcement, and estate planning
  • Free Sink or Swim Newsletter, and much more
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Product Details

  • ISBN-13: 9780137005031
  • Publisher: Pearson Education
  • Publication date: 1/26/2009
  • Sold by: Barnes & Noble
  • Format: eBook
  • Edition number: 1
  • Pages: 288
  • Sales rank: 1,430,167
  • File size: 869 KB

Meet the Author

Frank Armstrong, III, CLU, CFP, AIF, is the founder and principal of Investor Solutions, Inc., a fee-only registered investment advisor. He has more than 30 years’ experience in the securities and financial services industry. His bestselling book The Informed Investor was cited by BusinessWeek as one of the best investment books of the year. Frank has twice been named by Barron’s as one of the top 100 independent financial advisors. He was a featured columnist on Morningstar.com for a number of years and is a frequent contributor to AccountsWorld.com and FundsInteractive.com. He has appeared on “CNN Headline News,” “Your Money with Stewart Varney,” “PBS Morning Business Report,” CNBC, “Money Life with Chuck Jaffee,” and public radio stations around the country. Frank is widely quoted in the media, his articles appear in major financial magazines and Web sites, and he lectures nationwide on principles of investment management.

Jason R. Doss is an attorney with the Atlanta-based law firm, The Doss Firm, LLC. He represents consumers against the financial services industry in securities arbitrations and consumer class action litigation. Jason has a proven track record of fighting for consumers’ rights and for taking major corporations to task. Over the last few years, he has initiated some of the largest consumer class action cases in the country. Since 2001, Jason has been an active member of the Public Investors Arbitration Bar Association (PIABA), a national organization devoted to representing investors in securities arbitration.

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Table of Contents

Acknowledgements xiv

About the Authors xv

Introduction 1

Part I: Overview of the Retirement Problem 7

Lesson 1: You Are On Your Own 8

Lesson 2: The Changing Face of Retirement 15

Lesson 3: The Retirement Problem 20

Part II: Meet Your Retirement Plans 23

Lesson 4: Defined Benefit Plans 24

Lesson 5: Defined Contribution Plans–An Overview 30

Lesson 6: The Basic Defined Contribution Plan 32

Lesson 7: Profit-Sharing Plans 37

Lesson 8: Employee-Funded Plans 38

Lesson 9: Generic Problems with Pension Plans 39

Lesson 10: The 401(k) Plan 47

Lesson 11: The 403(b) Plan–Not-For-Profit Enterprises 50

Lesson 12: The Roth 401(k), 403(b) Option 55

Lesson 13: Section 457 Plans for Municipal and State Employees 56

Lesson 14: Making the Most of Your 401(k), 403(b), or 457 Plan 58

Lesson 15: IRAs 60

Lesson 16: Retirement Planning for the Self-Employed 72

Lesson 17: How Does Your Plan Stack Up? 75

Lesson 18: What Can Go Wrong 80

Lesson 19: Should You Contribute to It? 87

Lesson 20: Alternatives to Qualified Plans 89

Lesson 21: Help from the Courts 93

Part III: Where Are You in Your Career? 95

Lesson 22: Early and Mid-Career 97

Lesson 23: Changing Jobs: Smart Moves for Your Pension Plan 99

Lesson 24: At Age 50, the Catch-Up Provisions 111

Lesson 25: Approaching Retirement Transition Planning 112

Lesson 26: Early Retirement Tactics: How to Avoid the Tax Traps 114

Lesson 27: 70 is the New 65: Delayed Retirement Advantages 120

Lesson 28: At Retirement 125

Part IV: How Much Will You Need? 143

Lesson 29: Sustainable Withdrawal Rates 148

Lesson 30: Forecasting Your Needs 152

Part V: Investing to Meet Your Goals 161

Lesson 31: The Anti-Cramer Guide to Investment Success 162

Lesson 32: Start Early 163

Lesson 33: Cleaning Up Credit Card Debt 169

Lesson 34: Costs Matter 173

Lesson 35: Taxes Matter 176

Lesson 36: Control Risk 178

Lesson 37: Concentrated Stock 185

Lesson 38: The Perils of Company Stock 187

Lesson 39: Taking the Right Amount of Risk 193

Lesson 40: It’s the Portfolio, Stupid! 197

Lesson 41: Traditional Active Managers Are a Waste of Money 198

Lesson 42: Investment Vehicles 201

Lesson 43: Building Your Buckets 208

Lesson 44: Periodic Maintenance 214

Lesson 45: Investing During Retirement 216

Lesson 46: Selecting an Advisor 224

Lesson 47: Reaching Your Goals 233

Lesson 48: Public Policy Issues 240

Glossary 243

Index 251

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Sort by: Showing 1 Customer Reviews
  • Posted July 18, 2009

    Classic review of all retirement issues

    Of all the investment/retirement books I have been reading over years to keep myself current, I think this is the best comprehensive treatment. It clarifies financial offerings that are confusing by showing their weaknesses or conflict of interest issues, as well as explaining their value. The author covers retirement accounts, pensions, social security and asset allocation with an eye on how to judge the effect of taxes and expenses. Also in what order to draw down the funds once you do retire. I wish I had something like this years ago and it's been helpful in guiding my parents. A very timely gift for those in their 20's to anyone who needs to figure out retirement now.

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