Robert Shemin is a wealth expert for CNN and the author of 10 books including How Come That Idiot’s Rich and I’m Not? His latest book is tilted The Seven S.E.C.R.E.T.S of Money Masters. S.E.C.R.E.T.S. is an acronym for Safety, Expense, Cash flow, Rate of return, Economy, Tax-efficiency and Sense (common).

Robert dispels myths about 401Ks. He says 401Ks actually are costing us our retirement savings. 401Ks developed in teh Gerald Ford adminstration served two purposes. First, it relieved companies from the responsibility and expense of managing pension funds. Second, it allowed the I.R.S. to tax the retirement funds when they were dispursed.

Since most of us don’t have the acumen or time to make our own investment decisions, Robert has these two rules for selecting a financial advisor. Ask what they’re accomplished with their investment advice. Ask if they’re investing in the financial products they recommend.

Finally, Robert warns to differentiate between the Average rate-of-return and the Real rate-of-return. It’s the Real rate-of-return that investors care about.

Listen to the entire interview below: