Product Description

-- How would you spend an extra $4,000 a year for the next twenty-five years?

-- How much more secure would your retirement be with an extra $100,000 or more?

-- How much more time could you spend at your family dinner table if you could work an hour less each day?

-- What would you do in retirement if you could retire three years earlier?

Your 401(k) plan is probably one of your most important future sources of financial security. This book makes it easy for you to take the five steps needed to add more than $100,000 to your retirement nest egg without taking more risk or saving more money. This can allow you to improve your lifestyle, increase your benefits, identify the hidden costs and also improve your standing within your company by proactively helping your employer to take needed action.

Product Details

• Amazon Sales Rank: #2711 in Books
• Published on: 2007-10-15
• Original language: English
• Number of items: 1
• Binding: Paperback
• 197 pages

Review
"401(k) plans are costly, inefficient clunkers. Fortunately, there is a way out, and Loeper's book provides us a great map." -- Evan Cooper, Senior Managing Editor of Investment News

"If you want to know what's lurking inside of your 401(k), read this book." -- John F. Wasik, author of The Merchant of Power and Bloomberg News columnist

"Loeper's new book shows plan participants how to actually do something about these [401(k)] costs." -- W. Scott Simon, J.D., CFP®, AIFA®, author of The Prudent Investor Act: A Guide to Understanding

"This book should spur an entire new industry of 401(k) police...This is just too important an issue to be ignored." -- Len Reinhart, President of Lockwood Advisors (an affiliate of Pershing) and Past President of Smith Barney Consulting Group

About the Author
A popular industry speaker and writer, DAVID B. LOEPER is the founder and CEO of Financeware, Inc. in Richmond, VA. He has appeared on CNBC and Bloomberg TV, served on the Investment Advisory Committee of the $30 billion Virginia Retirement System, and was chairman of the Advisory Council for the Investment Management Consultants Association (IMCA). He earned the CIMA® designation (Certified Investment Management Analyst) from Wharton Business School in 1990 in conjunction with IMCA.

Customer Reviews

Loepers book exposes one part of the overall scam of Wall Street
Crazyman's Economics

In researching "Crazyman's Economics", I discovered the "dirty secret" of Wall Street that they rely on the fees and hidden costs as Loeper so thoroughly describes in "Stop the 401(k) Rip-off!." To Wall Street's brokerage houses, it doesn't matter if your 401(k) makes money or loses money, the fact is that as long as you have your money circulating, Wall St. makes money.

Loeper is correct that you need to take a greater look at your 401(k). Where I disagree with his book is that no matter how much you work to take the fees out, the problem is that the entire system is a giant con game. I would recommend that people take money out of their 401(k) and then they won't have to worry about hidden fees.

But Loeper's book is necessary reading to get a discussion started in this country about the role of Wall Street and the need for accountability for those who hold trillions of dollars of our money.

Demand This Book From The HR Department
What is the best way to "stop" the "rip-off?" One way is to find an alternative to the 401 itself. Perhaps "Stop the 401K rip-off" by David Loeper is garnering some deserved sales recently. Possibly because the financial markets are in a cyclical slump, and many Baby Boomer 401K holders are getting out their calculators. This book should lead some (not all) to question whether they should have the 401K plan at all to begin with. We know the tax benefits, but there are limitations of investment options, age restrictions, and hidden expenses (fees) that erode a worker's earnings over decades and limit allocation options.

The 401K is one piece among many investments in the retirement puzzle. This puzzle is shrinking, and retirement will be an illusion for tens of millions that will rely on the balance of the 401. Of course, the old adage of "diversification" is needed but some people are using other vehicles in their attempts attain critical mass or sufficient funds for living expenses in the latter years. And, what percentage of the 401K will be used for medical care? Pharmaceutical (medicine) costs? More than many think.

Yes, there is employer matching for some, but 401K plans are dishonest and limited. Some feel even more secure investing into the S & P 500 Index funds that are non-tax deferred.

The 401K plan has been intentionally engineered to steal from and cheat the worker. Congress has allowed this to happen. The lack of knowledge and ignorance has been engineered as well. The more ignorant workers with 401Ks are, the easier it is to profit via hidden fees.

Loeper tells us how to "stop the 401K rip-off." The gravy train of hidden expense theft is the foundation of the plan. The only way to stop the institutional and legally thievery is to stay in your plan and know *everything* about your plan, or to dump it and use alternatives. This is a good point with specifics.

2 key assets to this book. Exposing it and then advising on how to take actions. Loeper explains the "whats" of the 401 and also the "hows" of trying to reduce fees, fee disclosure, and offers points on getting in and out of these plans in the most optimum way. This book is necessary, but why should it be? Because of the systematic plan to separate as much of an American worker's money from him or her as possible.

"Stop the 401K rip-off" by David Loeper ought to be handed out by HR departments across the country when employees enroll in their 401K plans.

The winner's manual for the 401(k) game
Dave Loeper exposes the dark, hidden and arguably unscrupulous (yet legal) ways 401k participants have been (and continue to be) robbed. More significantly he gives you the knowledge to fix this injustice. Read this book and act on it or prepare to cry about it during your retirement or lack thereof.
From my experience as a retirement plan consultant, investment advisor and independent fiduciary; it is a sad commentary that almost every employer I meet isn't even aware of the basic retirement plan issues (let alone the remedies) highlighted in this book.
After reading this book you will know more than your employer about your broken 401k plan, more importantly, you will have the blueprints to help them fix it.