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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
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.
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Top customer reviews
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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
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.
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. You will learn that it is never too late to improve your potential wealth for retirement purposes.
This book is informative about excessive fees and potential conflicts of interest and provides actionable steps to help you motivate employers to fix the potential retirement sponge. I have participated in a defined benefit plan and 3 different 401K plans and never really realized how these plans calculated or substantiated their performance claims, which always seemed to be sub-par. This book helps to uncover the hidden realities and provide insight for the future. Great book for any level of retirement investor, from new hire to seasoned veteran. Highly recommended.