Reviewed by Carol Thompson for Readers' Favorite
David Stordahl's 401(k) Basics: A Short Guide to Understanding
Your Investment Plan is a refreshingly accessible entry into the
often complex world of retirement planning. This guide on business
and finance seeks to clarify the 401(k) plans that have significant
financial importance for more than 70 million active participants
across the United States. Stordahl, a semi-retired accountant and
former registered representative, shares his extensive expertise,
breaking down the intricate details of 401(k) plans into digestible,
relatable content. Unlike many other texts in this category, this
book takes a lighter, more engaging approach by incorporating
real-life stories that entertain and educate. The book may be short,
but it’s full of helpful information, written so that even the most
novice investor can understand a 401(k) plan and its
responsibilities.
Stordahl addresses a wide range of essential knowledge without
overwhelming his audience, covering topics from reevaluating
perspectives on money and determining personal risk tolerance to
in-depth analyses of stocks, bonds, and mutual funds. His sections
on the tax implications of 401(k)s and Roth 401(k)s are especially
engaging. They offer clear explanations that could empower
readers to make more informed choices regarding their retirement
strategies. Stordahl’s humor and lighthearted anecdotes make
learning enjoyable, a rare feat in finance-related literature. He
discusses the importance of starting sooner rather than later, a
lesson I wish I had followed in my twenties. David Stordahl's 401(k)
Basics is an essential read for anyone wanting a deeper
understanding of their retirement plan without getting bogged
down by jargon. It’s a practical, easy-to-follow guide that informs
and inspires readers to take active steps toward securing a
financially stable retirement. Whether you’re just starting your
career or nearing its peak, Stordahl’s insights could prove
invaluable in navigating the complexities of 401(k) plans. This book
would make an excellent gift for college students and anyone
starting a career
