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?

RS: I’ve been doing this since the beginning of 401(k) plans. I’ve been a consultant for over 25 years, consulting on retirement plans, and I’ve been in academia the past seven years. It is something that is interesting to me. I’m a numbers guy.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events.
  • Access to other award-winning ALM websites including and

Already have an account?


Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including and
  • Exclusive discounts on and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.