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Stop the Retirement Rip-off: How to Keep More of Your Money for Retirement Paperback – November 22, 2011
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From the Back Cover
The detailed guide to avoiding the pitfalls of retirement funding
Saving for retirement is never easy, but in today's volatile economic climate it's moredifficult than ever. Whether you know it or not, if you're investing in a 401(k) plan, you and your fellow investors are being defrauded to the tune of billions of dollars in fees every year. While both plan sponsors and employers are legally bound to look out for you best interests, the fact is that you're on your own. Investment management expert David Loeper is here to help, and this second edition of his bestselling Stop the Retirement Rip-off is designed to give you the knowledge and tools you need to take control of your retirement future.
Fully updated to address the all-new challenges of retiring in the twenty-first century, the book provides a road map that will help you navigate the fees and costs associated with retirement plans, in order to get the most out of them. In addition, the book outlines the steps for bringing a case to the Department of Labor if your employer continues to disregard your rights to a bountiful retirement. Written in a straightforward and accessible style, Stop the Retirement Rip-off is filled with sensible strategies for making the most of retirement funds and putting your retirement plan back on the right financial track.
The book also goes one step further, with a discussion of how to make the most of your money,and your life, after fixing your retirement savings plans. Addressing the most up-to-date distribution rules and regulations on IRAs and other pension plans, this new edition is the only book you need to prepare for the retirement you deserve.
About the Author
More About the Author
Author and Chairman/Chief Executive Officer- Financeware, Inc.
David B. Loeper is a Certified Investment Management Analyst SM, a Certified Investment Management Consultant SM and the CEO of Financeware, Inc. which does business as Wealthcare Capital Management. An SEC Registered Investment Adviser with nearly 25 years experience, Loeper has appeared on CNBC and has been a featured contributor on Bloomberg TV.
Loeper joined Wheat First Securities as vice president of investment consulting in 1988, where he served for 10 years. He was promoted to managing director of investment consulting, and then eventually to managing director of strategic planning for the retail brokerage division. He left his position at Wheat First Securities in 1999 to found Financeware.
Active in industry associations throughout his career, Loeper has been a member of the Investment Management Consultants Association (IMCA) for over 20 years, serving on the advisory council for more than 5 years, most recently as chairman. Loeper was also appointed by the governor of Virginia to serve on the Investment Advisory Committee of the nearly $30 billion Virginia Retirement System. He received his CIMA(R) designation in 1990 by completing a program offered through Wharton Business School, in conjunction with IMCA.
Drawing on years of experience in financial services including serving as a fiduciary for all types of ERISA plans, Loeper has authored numerous whitepapers and books including the top selling book, Stop the 401k Rip-off! as well as The Four Pillars of Retirement Plans, Stop the Retirement Rip-off and Stop the Investing Rip-off.
Top Customer Reviews
Besides showing the reader the right questions to ask to determine what, usually undisclosed, or obsurely disclosed, costs are being deducted from their plan balances every year, Loeper shows what even a fraction of 1% in excess costs means in real terms to a plan participant. Be it working longer, having less to spend in retirment, subjecting themself to more investment risk, or having to save a lot more - these are all the types of actions effectly imposed on a participant to offset the long-term impact of excessive costs that can be eliminated by a knowledgeable employer. Reading this book can make that employer knowledgeable enough to easily reduce plan costs.
Loeper walks a participant step-by-step in how to approach and alert their employers to industry abuses in this area - to raise the alarm bell and help prevent unnecessary systematic reduction of hard-earned participant plan balances.
I was thrilled to discover Stop the Retirement Rip-Off. This is one of the best books I have read on this subject to date, especially since it takes a very step by step look at one of my huge pet peeves - hidden and not so hidden extra fees in the banking systems, governement or elsewhere.
In fact, using 5 specific steps (which are all clearly explained in this book) author Loeper encourages us by telling us that WE ARE responsible for our money and that it is up to us to stay informed and on top of our money - and that by following his 5 steps and keeping our eyes open and keeping informed - we can avoir being ripped-off when it comes to our retirement.
This book is written for the lay person, there are no fancy financial terms here and the steps, suggestions and recommendations are all very logical and easily done.
I highly recommend this book - it is very well worth the investment.
Getting participants informed about excessive fees and conflicts of interest and providing them with easy to execute steps to get their employer to fix their "costly clunker" retirement plan is the only way to help investors make the most out of their retirement plan since the DOL has tabled new disclosure regulations about fees and conflicts of interest.
The steps are easy to follow and allow you to approach your employer in a positive, non-confrontational way to fix your retirement plan.
With what the author discloses about conflicts of interest and hidden fee skimming about retirement plans, I'm anxious to get his next book, Stop the Investing Rip-off that supposedly will show the inner workings of rip-off artists from Wall Street brokers, financial planners and advisors, newsletters, discount brokers and even the media.
Stop the Investing Rip-off: How to Avoid Being a Victim and Make More Money I might also consider getting his book about retirement plans designed for employers, advisors and attorneys as a gift for our benefits manager. The Four Pillars of Retirement Plans: The Fiduciary Guide to Participant Directed Retirement Plans
This book is a very entertaining read on a topic that most people would not understand until it is too late to change their retirement plan outcomes. The author, David Loeper, shares a wealth of knowledge and extensive industry experience that can potentially save investors a considerable loss of wealth building for retirement. He conveys his zeal for helping the everyday retirement investor reap increased benefits from a lifetime of effort and hard work.
Most people do not realize how excessive fractional costs by 401K plan sponsors (and other options) dip into their long term goals. This book explains many of the risks and rewards of retirement planning, and how you or your employer's choices can substantively impact your yearly income in the retirement years. The difference between an administrative fee of 1.65% vs 0.95% is astonishing. Several comparisons are illustrated to accentuate the lost opportunities. A few decimal points can cost you thousands per year in unrealized retirement income.Read more ›
Most Recent Customer Reviews
This author agrees strongly with the Frontline show "The Retirement Gamble" and it's assessment that really what we need is more regulation and government control of your... Read morePublished on April 27, 2013 by BookAMZNXpress
if you handle your own 401k--is a good book. but like most of us that has our 401k through work--don't need the bookPublished on April 19, 2010 by Fred Stephen