Working Papers & Study Guide for Century 21 Accounting: First Year

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Working Papers & Study Guide for Century 21 Accounting: First Year
Swanson , Ross , and Hanson
Manufacturer: Thomson South-Western
ProductGroup: Book
Binding: Paperback

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ASIN: 0538606045

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Century 21 accounting: First-year course emphasizing special journal applications : working papers and study guides, chapters 1-30
Robert M Swanson
Manufacturer: South-Western Pub. Co
ProductGroup: Book
Binding: Unknown Binding

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ASIN: 0538275197

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"The 401(k) will turn out to be the greatest systemic financial hoax ever perpetrated on an unsuspecting public," write William Wolman and Anne Colamosca in the opening pages of this book of financial muckraking. They compare this popular form of retirement planning with the Dutch tulip mania of the 17th century, the South Sea Bubble of the 18th century, and the stock-market crash of 1929--and suggest that something worse is on the horizon for people who are planning to live their golden years off the proceeds of 401(k) investing. Wrongly believing that the boom years of the 1990s were typical, "most Americans do not have the resources to ride out the bad markets of the kind that we believe will prevail for the next decade," write Wolman (former chief economist for BusinessWeek) and Colamosca (a veteran journalist). They advise current investors to put their 401(k) money into bonds and believe companies should be banned from matching employee contributions with its own stock (a lesson they draw from the Enron debacle). The authors want even more, however: "What is needed is an FDR-style New Deal for the nation's pension system." The Great 401(k) Hoax is a piece of investment populism, potentially doing for the CNBC crowd what Donald L. Barlett and James B. Steele did for political junkies. --John Miller

Book Description

How the 401(k) has come to dominate the American family's long-term investment portfolio, why it is inadequate--and what to do about it.

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.

Customer Reviews:

Lost Interest Quickly..........2007-01-06

I have been reading a lot of books lately regarding investments and finances. This book trips itself up on some kind of a political agenda (I have yet to figure out if the authors were trying to smear Republicans, Democrats, or both), so much so that I was completely distracted by what the authors had to say and quit reading after a few chapters. The political jabs were distracting and they made the authors seem less credible. The book had too much of a "doomsday/completely hopeless future" feel to it, it almost was painful to read, it made me squirm inside!
There are many books out there that can offer a lot more help (and hope) than this one, if you are looking to secure your financial future.

What Can I Do About It?.......2006-08-23

The Title of the book states "Why your family is at risk, what you can do about it?" After nearly 188 pages on the first part of this phrase, the authors talk about "stillwater" investing which seems to be "random walk" by another name. The authors complain loudly and convincingly (with some irritants mentioned by other reviewers), but I'd have expected similar vigor and greater clarity in listing out the solutions....disappointed.

401 (K): Hype, intolerable, opinionated poopfest.......2005-09-08

Like several other reviewers who I should have read first, I found myself seeing a loooong stretch to this book's short stack of information and too much snarky cereal filler. You'll be angry, trust me.

Must have family who edited the thing and printed it.

long-term view that public must heed.......2004-03-18

The great 401(k) hoax has a long-term view that is very sobering and that people must pay attention to. The public has been told that they will do best if they take care of their own pension plans -- this saves corporations billions of dollars!

sobering thoughts for babyboomers.......2004-02-23

This intelligent book lays out some startling truths for babyboomers about to retire --mamany of them have only a small stake in the stockmarket because their incomes may not have been particularly high and they will only have a tiny portion of what they will need later in their lives. It's a wake-up call to reinvent themselves and work longer, find more interesting work and keep bringing in income.

The Great 401 (K) Hoax: Why Your Family's Financial Security is at Risk, and What You Can Do about It

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Understanding the Myths and Realities of 401-K Plans
I'll struggle to review, like the writers struggled to conclude
If You Participate in a 401(k), You'd Better Read This
So Many "A-ha" Moments
A good perspective on the risks inherent in 401k plans

The Great 401 (K) Hoax: Why Your Family's Financial Security is at Risk, and What You Can Do about It
William Wolman , and Anne Colamosca
Manufacturer: Basic Books
ProductGroup: Book
Binding: Paperback

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ASIN: 0738208523
Release Date: 2003-04-01

Book Description

The American public was hoodwinked: 401(k)s were established to satisfy corporations, not the interests of working Americans. Portrayed as a perpetual wealth machine, the 401(k) was meant to satisfy the needs of every employee. Yet, it was an impossible promise to fulfill: It was the great 401(k) hoax. According to William Wolman and Anne Colamosca, this was the latest act in the gradual erosion of the nation's retirement system. Drawing from reams of historical and contemporary data as well as economic, social, and political trends, they reveal the system's troubled 100year history. Beyond exposing the hoax, the authors urge everyone to take charge of their investment portfolio and recommend strategies for beating Wall Street at its own game. 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.

Customer Reviews:

Understanding the Myths and Realities of 401-K Plans.......2006-08-25

I read and was enlightened by the hardcover edition of Wolman and Colamosca's book when it was first published and am looking forward to reading the updates in the recently released paperback edition. Companies encouraged baby boomers to join the 401-K bandwagon. Now, as we begin to enter retirement years, our large demographic may provide a magnified study of the impact of such plans. Perhaps this will benefit younger members of the workforce, especially if the Bush Administration re-visits its efforts to foster worker-managed-retirement-investment programs.

I'll struggle to review, like the writers struggled to conclude.......2006-03-09

The Great 401(k) Hoax is real!!!!

Or at least that's what the writers of this book, surpisingly former Business Week contributers, will have you believe. ("Surprisingly" because of the lack of free-markets bent.)

The conclusion is that our entire futures are based around a flawed and imperfect system of investing that has led us all astray and has jeopardized our future. This is ten to fifteen pages of The Great 401(k) Hoax. The rest of the book provides historical comparisons to the post bubble/9-11 period that "prove" we are in for stagnant returns in the stock market from now (the now being mid 2002 when the book was written) to...well, who knows when. Quite honestly, the historical connection is incredibly signficant as history may not be indicitive of future returns (as all mutual funds are required to tell you), but history can be darn close. This part of the book is very interesting and important. Also included is a analytical perspective on the destruction of the pension plan which is fine and good, but intuitive.

What lacks is the clear cut conclusion of "what do we do?" Part of the title of this book is "What You Can Do About It." After reading the entire book, I'm still not entirely clear on what I can do about it. The writers offer investment suggestions, but in the end still seem a little inconclusive on whether they are viable options for a safe retirement. In the afterward, written a year or so after the original release, many of the writers' original investment suggestions are (obviously) rescinded, such as bonds which had 3 years of strong growth following the continuing decline of stocks. Ultimately, one investment option is highly recommended, both in the book and the afterward. I won't ruin the surprise for readers, but their TIPs are anti-climactic.

If You Participate in a 401(k), You'd Better Read This.......2006-02-23

If a person wants to invest in the stock market or in other forms of investments (bonds, govt. securities), and the primary purpose behind these investments is for retirement, this is a book that one should read. As with so many things that the government does, often in cahoots with businesses, this book shows how the 401(k), a supposed benefit to employees, is anything but. The `average' employee is getting ripped off in his/her 401(k) plan. The primary benefits of 401(k)'s are to the businesses, themselves, and to the top 10% of households based on wealth. Simply put, the rich get richer at the expense of the middle and lower class. If you have a 401(k) or are thinking of participating in one, read this book first and then decide if or how you want to participate. Rating: 4.0.

So Many "A-ha" Moments.......2006-01-04

I'd been feeling suspicious and uncomfortable for years with regards to Stock Market investing, Mutual funds and 401K's and pension plans in particular. I never really knew why aside from this feeling that "The Street" was always trying to pull a fast one on us little guys. I applaud and thank the authors for this book and the effort to educate the masses. The patience and wisdom with which they explain the "fallacy of composition" as the basic principal behind the danger of investing in the stock market and especially a 401K for one's retirement is the best and most important element of the book. I'm feeling as if I've just been pulled from a burning building.

This book also reveals the many advantages corporations have over wage earners and the individual investors. Reading this book will arm the average American with the knowledge needed to prevent costly investment mistakes - like complacency and too much trust in our corporate employers and wall street gurus.

A good perspective on the risks inherent in 401k plans.......2005-07-14

The authors set out to prove that 401k plans are inherently risky and in many cases inadequate to meet the retirement needs of people. They make their case by using historical analysis and they manage to do it well. They draw a parallel comparision between the politics, culture and economics of the 1920s and the 1990s. Just as the 1920s led to the Great Crash and the Depression, the new millenium looks ready for similar economic hardships. This can have a devastating effect on the retirement plans for most Americans.

Before 401(k) plans came into the picture, "defined pension plans" had become popular ( though not as popular as 401k was eventually to become). Those were the Golden years of the American economy (1945-1973). It represented a certain commitment by American companies to their workers. Most companies were doing well in those years and could guarantee the monthly pension checks to retirees.

As America suffered slow-growth years from 1973 to the mid 90s, the solution that emerged for improving corporate balance sheets was simple: Design a pension system that depended not on defined benefits for employees but on defined contributions made mainly by employees. As corporations were having more trouble making money, the 401(k) became the new model for pensions.

Various other factors contributed to Americans shifting more and more of their assets into stocks/Mutual funds/401k plans over the years:

1. First is the Wall Street propaganda resulting from the massive drive to capture the public's resources. Andrew Smithers, the brilliant British financial analyst, once told the authors that he could make a lot of money by being a bull and being wrong than by being a bear and being right.

2. Delusive academic research, demonstrating that stock investments, patiently made over the years, were a safe and superior source of investment. Professor Jeremy Siegel's book "Stocks for the Long Run" has been one of the most repected sources of delusion. To Siegel, the failure to grow rich is an individual's failure to save enough or to be patient, not of the way in which society as a totality works.

3. The economic boom years from 1995-1999 provided much incentive and validated the Wall Street propaganda and the delusive academic research.

The authors discuss the various evils in the stock market, the current American economy and the 401k plan. They propose various reforms such as banning of company stock contributions, allowing employees to shift their funds at any time they want to, keeping transaction fees low and discouraging conflicts of interest between employees and their corporate employees.

Until new legislation arrives to fix our 401(k) plans, we are stuck with what exists. Investing in Inflation-indexed government bonds, though not frequently made available in 401(k) plans, come across as the best way to plan for retirement in the current situation.

This book is worth a read just to get a historical perspective of the US economy and of the retirements plans that existed through the times.

Cracking Your Retirement Nest Egg (Without Scrambling Your Finances): 25 Things You Must Know Before You Tap Your 401(k), IRA, or Other Retirement Savings Plan

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Turtlehut incorrect
Right On Retirement
First thing I read was wrong
Retirement advice you can actually understand
Enter the maze....

Cracking Your Retirement Nest Egg (Without Scrambling Your Finances): 25 Things You Must Know Before You Tap Your 401(k), IRA, or Other Retirement Savings Plan
Margaret A Malaspina , and Margaret A. Malaspina
Manufacturer: Bloomberg Press
ProductGroup: Book
Binding: Hardcover

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ASIN: 1576601269

Book Description

A former vice-president of Fidelity offers indispensable advice for the millions of baby boomers hitting 50, 55, and beyond. The author of "Don't Die Broke," she focuses on spending and living off retirement savings, while other books are geared towards saving for retirement.

Customer Reviews:

Turtlehut incorrect.......2005-07-29

In Turtlehut's review he/she said social security answer ID277 indicated that certain income was not counted in determining if there was to be an income tax on benefits. That is not correct. That information relates to the earnings limit test,or how much income is counted on which a worker pays fico taxes into the fund. There are people who collect pensions and still work. I should know, I pay income tax all my retirement income including social security and it is punitive. The tax was imposed in l983....thank Ronald Reagan and his revolting congress.

Right On Retirement.......2004-09-18

Geez, I find Tut's review inappropriate. My copy had an errata sheet with a correction for the error that is cited, which is more than I can say for some of the other books I've read on retirement. The book is readable, comprehensive and not too technical. I found answers to a lot of my questions. I particularly liked that I could find the information I needed without reading the whole book. Malaspina seems to know enough about her audience to have anticipated the key issues and organized them from the most basic to the most arcane. My advice: If you are within 5 years of retirement, this book should be on your "must read" list.

First thing I read was wrong.......2004-04-18

I just received this book and thumbing through it read Ohapter 14 on Social Security. On page 141 she that at age 62 you lose $1 in benefits for every $2 in earnings above $11,500 - which is correct. But then she goes on to saying "You can't get around these reductions in benefits by supplementing your Social Security income with withdrawals from your other savings or retirement plans. CAPITAL GAINS, dividends, interest income, and any other withdrawals from your retirement plans or accounts count as income and you fail the test if you push past $11,500 or $30,000 regardless of source."

This seemed wrong to me so I went to the Social Security web site. The SSA says (answer ID 277): "Nonwork sources of income, such as: inheritance payments, pensions, income from investments, IRA distributions, interest, or other sources do not count as wages for the earnings test."

What other errors are there in this book? I don't trust it after 30 minutes of reading, certaintly not to help with my retirement decisions. At least I only lost the cost of the book

Retirement advice you can actually understand.......2003-03-11

I stumbled across this book browsing in my local bookstore and I couldn't believe my eyes. It laid out everything you need to know to retire. It is extremely well-organized and well-written. I gave a copy to my financial advisor and told him I finally understood all the stuff he was trying to explain to me.

Enter the maze...........2003-03-11

This has to be one of the most boring topics in the field of financial advice. The proliferation of retirement savings plans, the maze of regulations, exceptions, and judgement calls that have to be considered by the average retiree is almost numbing. It's boring in the abstract. But it gets your attention when it's your money and future in the balance. Bascially simple rules for accumulating retirement wealth and accessing it continue to evolve like a patchwork quilt. Malaspina is relentless in her efforts to cover the topic and we are the beneficiaries. Chapter 21 treats the issue of company stock held in a retirement plan and how it can receive tax advantaged treatment. Malaspina does an even-handed job of explaining the risks and discusses whether it makes sense to take advantage of this often overlooked opportunity. Information "For Women Only" and non-spousal partners (Chapters 22,23)is dealt with briefly, but it also very useful. One important retiree misconception that does not appear in this book: Many otherwise sophisticated investors facing annual required mandatory minimum withdrawals from their IRA's at 70 1/2 don't realize that assets do not always have to be sold to comply. Many investment assets can be moved 'as they are' into a non-IRA account at market value thus avoiding unnecessary sales charges and the loss of a worthy investment.

Building Your Nest Egg With Your 401(K): A Guide to Help You Achieve Retirement Security

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Building Your Nest Egg With Your 401(K): A Guide to Help You Achieve Retirement Security
Lynn Brenner
Manufacturer: Investors Press
ProductGroup: Book
Binding: Paperback

Financial Planning | Personal Finance | Business & Investing | Subjects | Books

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ASIN: 1885123094

5 Books: 1) You're Fifty--Now What? Investing for the Second Half of Your Life / 2) A Commonsense Guide to Your 401(k) (Bloomberg) / 3) I'm Retiring, Now What?! / 4) Your Top Investing Moves for Retirement / 5) Investing for Retirement (Unboxed Set of Personal Finance Books)

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5 Books: 1) You're Fifty--Now What? Investing for the Second Half of Your Life / 2) A Commonsense Guide to Your 401(k) (Bloomberg) / 3) I'm Retiring, Now What?! / 4) Your Top Investing Moves for Retirement / 5) Investing for Retirement (Unboxed Set of Personal Finance Books)
Charles Schwab , Mary Rowland , Barbara Wagner , Hope Egan , Deirdre Martin , and Junius Ellis
Manufacturer: various
ProductGroup: Book
Binding: Paperback
ASIN: B000WMB2Q2

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5 Books: 1) You're Fifty--Now What? Investing for the Second Half of Your Life / 2) A Commonsense Guide to Your 401(k) (Bloomberg Personal Bookshelf Hardcover) / 3) I'm Retiring, Now What?! / 4) Your Top Investing Moves for Retirement / 5) Investing for Retirement, (Unboxed Set of Personal Finance Books), in either Hard or Softcover, (See Seller Condition Comments), Shipped in one package to save on shipping costs.

How to Build Wealth With Your 401(K): Everything You Need to Know to Become More Than a Millionaire over the Course of Your Working Lifetime

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So-so

How to Build Wealth With Your 401(K): Everything You Need to Know to Become More Than a Millionaire over the Course of Your Working Lifetime
Steve Merritt
Manufacturer: Halyard Press
ProductGroup: Book
Binding: Paperback

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ASIN: 1887063048

Customer Reviews:

So-so.......2004-05-09

I have just finished reading this book. I didn't like it because the author goes back and forth between very simplistic comments and useless and time-consuming mathematical formulas.
Moreover, the 1997 edition is completely outdated. There is nothing here about the best retirement device ever: the Roth IRA. This reason alone is enough not to buy this or any book that is so old.
There are good information in the book though. I just think that there are better books about retirement.
Gidi

You and Your 401(K): How to Manage Your 401(K) for Maximum Returns

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This book explains it all!

You and Your 401(K): How to Manage Your 401(K) for Maximum Returns
Julie Jason
Manufacturer: Simon & Schuster
ProductGroup: Book
Binding: Paperback

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This book explains it all!.......1999-02-21

I read You and Your 401(k) cover to cover in one sitting and loved it. This book gives me hope and direction. I recommend it to everyone with a 401(k).

Your 401(k) Plan: What You Can't See Is Costing You Plenty

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Your 401(k) Plan: What You Can't See Is Costing You Plenty
CPA,CFPTM, AIFA Mario C. Giganti , and J.D.,CFPTM, AIFA Harlan G. Storey
Manufacturer: Lorman Education Services
ProductGroup: Book
Binding: Spiral-bound

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ASIN: B000RY5XFQ

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Plan sponsors and fiduciaries have a unique and increasingly complex set of issues that must be properly addressed in order to show prudence in the management of their qualified plan. With more attention being paid to the practice of fiduciary compliance, it is important to follow a structured process that shows the steps you are taking to meet the established guidelines set forth by ERISA.

Before you cash out your 401(k), check this out.(RESOURCES: banking & finance): An article from: New Hampshire Business Review

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Before you cash out your 401(k), check this out.(RESOURCES: banking & finance): An article from: New Hampshire Business Review
William Anderson
Manufacturer: Thomson Gale
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Binding: Digital

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Book Description

This digital document is an article from New Hampshire Business Review, published by Thomson Gale on March 16, 2007. The length of the article is 544 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Before you cash out your 401(k), check this out.(RESOURCES: banking & finance)
Author: William Anderson
Publication: New Hampshire Business Review (Magazine/Journal)
Date: March 16, 2007
Publisher: Thomson Gale
Volume: 29 Issue: 6 Page: 41(1)

Distributed by Thomson Gale

Forgo the fund? You're risking your retirement, but if you believe in your startup you can fund it with your 401(k).(BE YOUR OWN BOSS: BIZ 101): An article from: Entrepreneur

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Forgo the fund? You're risking your retirement, but if you believe in your startup you can fund it with your 401(k).(BE YOUR OWN BOSS: BIZ 101): An article from: Entrepreneur
Nichole L. Torres
Manufacturer: Thomson Gale
ProductGroup: Book
Binding: Digital

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Book Description

This digital document is an article from Entrepreneur, published by Thomson Gale on July 1, 2005. The length of the article is 433 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Forgo the fund? You're risking your retirement, but if you believe in your startup you can fund it with your 401(k).(BE YOUR OWN BOSS: BIZ 101)
Author: Nichole L. Torres
Publication: Entrepreneur (Magazine/Journal)
Date: July 1, 2005
Publisher: Thomson Gale
Volume: 33 Issue: 77 Page: 90(2)

Distributed by Thomson Gale

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