My new book, From Millennial to Millionaire: DIY 401(k), will be published soon. I began to write the book a year ago to combine two of my passions: investing and writing. My book provides an actionable and comprehensive guide to getting your 401(k) started, funded, and managed on your own as you take ownership over your financial life. It’s about you taking charge of your 401(k). It’s vital to begin to understand retirement investing and planning now, and my book will show you how to build the mindset and capability that go hand-in-hand with your desire to self-direct your finances.
Here’s three reasons why you should read it.
- My book offers five DIY steps to design and manage your 401(k). Millennials need to understand the intricacies of their 401(k)s, and the truth is that many currently still do not. But that’s a problem, because your 401(k) will most likely be your first exposure to the rich and diverse world of investment accounts and investing, as well as your source of income in retirement. If becoming more investing-savvy and retirement-ready intrigues you, then my book will be of excellent service. I provide you with five easy steps that show you how to build your DIY finesse, understand how much to save, determine whether a traditional or Roth account is best, design a diversified and low-cost portfolio, and manage your account on your own. I supplement these steps with a quick start guide, as well as a FAQ section to address common concerns.
- My book provides investing information that is research-based and aligned to actual millennial experiences. I ground all the analysis in the book in research conducted by the Transamerica Center for Retirement Studies. The organization has published an annual retirement survey since 1998, and I use the latest report from 2016. From this research, I’ve gauged that millennials are demonstrating positive trends when it comes to retirement readiness, as well as opportunities to improve. Additionally, all the analysis will covey information in a way that is relatable to you; for example, the research shows the average millennial income is $47,000 and their savings rate is 7%. Using these assumptions ensure that the recommendations are based in empirical reasoning. From them, I’ll show you that you can turn a $47,000 salary into a $2.2M retirement.
- My book shares my personal investing experience, along with my advice on how you can invest for millionaire success. I’ve been a DIY investor since 2010 and have placed myself on a path to a millionaire’s retirement. Alongside the research and analysis, I also provide my own personal story of investing. For example, I left the University of Illinois in 2010 with $25,000 in student loans. And yet, I was able to pay off those loans in 4 years, while still saving in my 401(k). I provide in the book my tips and tricks on how to balance these two demands, among other helpful guidance on how to start investing small and to grow from there, and how to budget so that you can meet all these demands while still not losing sight of these financial priorities.
I’m incredibly thankful to the many people who helped to make this book a reality. I had finished the first manuscript back in November 2016, but since that time I’ve had it out to various peer-reviewers and editors. I wanted to ensure that the book was millennial-proofed, and the book has been greatly enhanced through the feedback I have received during the writing and editing process. I’m sure you’re going to love it as much as I do!
Follow me on Twitter @MatthewKMiller.
Stay tuned! To get this blog started, I’ll be taking inspiration from my upcoming book, From Millennial to Millionaire: DIY 401(k) – 5 Do-It-Yourself Steps for the Digital Generation to Design and Manage their 401(k), to write blog posts. My new book should be available in eBook and paperback on Amazon by summer 2017.