For many, retirement has become increasingly difficult to both
attain and afford. But there is a way today’s 401(k) participant,
as well as those contributing to similar retirement savings plans,
can turn their retirement dreams into reality.
With over twenty-five years of experience consulting on
retirement plans, author Richard Schmitt knows what it takes to
make the most of them, and now, in 401(k) Day Trading: The Art of
Cashing in on a Shaky Market in Minutes a Day, he shows you
how.
Divided into four comprehensive parts, this reliable resource
takes you step-by-step through the environment, rationale, and
process of day trading your retirement portfolio in minutes a day.
It skillfully outlines an approach to buying low and selling high
through daily fund exchanges–that draws on many of the
fundamental principles of investment management–to exploit
daily market volatility.
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Preface ix
Acknowledgments xv
PART I Introduction 1
CHAPTER 1 Game On: Making Something Out of Nothing 3
PART II Environment 27
CHAPTER 2 The Shift: Pensions to 401(k) Plans 29
CHAPTER 3 Rules of the Game: 401(k) under the Hood 55
CHAPTER 4 Tools of the Trade: A Look at Your Assets 77
CHAPTER 5 Uneven Playing Field: Volatility in a Sideways Market
115
PART III Rationale 143
CHAPTER 6 Playbook: Retirement Savings Investment Strategies
145
CHAPTER 7 Getting an Edge: Buy Low and Sell High 187
PART IV Process 211
CHAPTER 8 Game Plan: The Art of Day Trading 213
CHAPTER 9 Postgame Press Conference: Moving Forward 251
APPENDIX A Decision Tree Controlling Transition of Day
Trading Accounts 267
APPENDIX B Outside Assistance in 401(k) Day Trading through
Systems, Services, or Funds 271
Notes 273
Glossary 279
About the Author 285
Index 287
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Richard Schmitt is an adjunct professor teaching retirement planning at the Edward S. Ageno School of Business at Golden Gate University in San Francisco. Having worked in the retirement plan industry since the origin of 401(k) plans, he has assisted companies in the design, implementation, and administration of 401(k), 403(b), 457, and other retirement savings plans for over twenty-five years. Before joining academia, he worked as a corporate manager overseeing compensation and benefits plans for a couple of the largest U.S. companies based in Silicon Valley. He also worked as a consultant at major international consulting firms serving other Fortune 500 companies. Mr. Schmitt is a Fellow of the Society of Actuaries, a Member of the American Academy of Actuaries, and an Enrolled Actuary licensed to practice before the Internal Revenue Service. He graduated with distinction from the University of Michigan with a Bachelors of Business Administration degree and subsequently earned teaching credentials at San Francisco State University.