Calling himself the 401(k) lab rat, Richard Schmitt has been day trading within his 401(k) plan for the past three years. An adjunct professor at Golden Gate University in San Francisco, former retirement plan consultant to two large Silicon Valley companies and an actuary, Schmitt said that his theory on how to get higher returns within a 401(k) has worked very well for his own investments during the past three years so he thought he would share it with others who may not have the time to think about their retirement investments on a daily basis.

In his new book, "401(k) Day Trading: The Art of Cashing in on a Shaky Market in Minutes a Day," which was released in October, he shares his tips on how average people can take advantage of volatile markets within their retirement plans. Golden Gate University is starting a class next semester based on the findings from Schmitt's book.

BP: How long have you been in the retirement business?