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There's a simple raison d'etre for the newly published The Complete Idiot's Guide to 401 (k) Plans (Macmillan/Alpha Books, January 1998, $17.95). While more than one out of three Americans is eligible to participate in some kind of 401(k) plan, many avoid learning how best to manage their retirement investment to achieve maximum returns. That's especially troubling when you consider that for many people, the 401(k) plan will be their largest asset, come retirement.
America's lack of education regarding 401(k) plans comes as no surprise to the book's co-author, Dee Lee. After 15 years in practice as a financial planner, Lee founded Harvard Financial Educators in Harvard, Massachusetts, to offer seminars designed to help corporate and institutional employees understand their benefit packages and make sound decisions regarding their pension and profit sharing plans.
It's Lee's hope that The Idiot's Guide will help its readers avoid many of the mistakes she's seen employees make. Says Lee, "The biggest mistake across the board is not taking advantage of the company's match. The next is choosing investments that are...