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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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Stop the Retirement Rip-off: How to Keep More of Your Money for Retirement + Stop the Investing Rip-off: How to Avoid Being a Victim and Make More Money + The Four Pillars of Retirement Plans: The Fiduciary Guide to Participant Directed Retirement Plans
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Product Details

  • Paperback: 222 pages
  • Publisher: Wiley; 2 edition (November 22, 2011)
  • Language: English
  • ISBN-10: 1118133048
  • ISBN-13: 978-1118133040
  • Product Dimensions: 0.7 x 6.3 x 8.8 inches
  • Shipping Weight: 11.4 ounces (View shipping rates and policies)
  • Average Customer Review: 3.3 out of 5 stars  See all reviews (7 customer reviews)
  • Amazon Best Sellers Rank: #276,327 in Books (See Top 100 in Books)

Editorial Reviews

From the Back Cover

Storp The Retirement Rip-off

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

David B. Loeper is the CEO of Financeware, Inc. Prior to founding Financeware in 1999, Loeper was managing director of strategic planning for the retail brokerage division of Wheat First Union and served on the Investment Advisory Committee of the almost $30 billion Virginia Retirement System. Loeper has been active in several industry associations, including the Investment Management Consultants Association (IMCA). He has also been a featured speaker at numerous industry events and often contributes to industry publications, as well as appearing on CNBC, Bloomberg TV, Fox Business, CNN, and Yahoo! FinanceVision.

More About the Author

DAVID B. LOEPER, CIMA(R), CIMC(R)
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.

Customer Reviews

3.3 out of 5 stars
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Most Helpful Customer Reviews

7 of 7 people found the following review helpful By R. P. Wilson on April 13, 2009
Format: Paperback
Loeper's updated book contains a "how to" guide written for retirment plan participants - expanded beyond just 401(k) participants in this edition. But the guide is equally important for plan sponsors, where if they haven't done proper due diligence on the full, often hidden, costs of plans they offer their employees they could end up in a minefield of litigation risks.

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.
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3 of 3 people found the following review helpful By JohnGalt on April 1, 2009
Format: Paperback Verified Purchase
This book is an updated version of Stop the 401(k)rip-off that includes other types of retirement plans like 457 and 403b plans. Other than that and some updated portfolio allocation information, it is basically the same. It is an easy read and actually, the author's writing style is very entertaining considering the topic.

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
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2 of 2 people found the following review helpful By Tina on June 7, 2009
Format: Paperback
Unfortunately, I am at the age where retirement is looming in the future (okay, its still 12 years away - but still it feels pretty close). I have been reading up on retirement and more specifically on how to make every penny of my retirement money work for ME instead of for my broker, government or bank. This has proven to be quite the challenge as it seems as though every where you turn, someone is sticking their hand out wanting a chunk of your savings.

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.
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1 of 2 people found the following review helpful By Hawk on January 28, 2012
Format: Paperback
This extremely informative book can potentially help the typical retirement investor save hundreds of thousands of dollars over their lifetime. The primary focus is on employer sponsored 401K plans, with other savings options included. Most employees participate in these blindly, assuming that these plans work in their best interests. The author is a seasoned investment insider and his book conveys the real information in an enlightening, fact-filled and compelling context. You can learn how to save substantially more money for retirement without any additional out of pocket costs. Just read on the back cover about the author's credentials and you will realize that he can provide invaluable insight into this somewhat complex subject.
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.
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