The 401k Conspiracy

The current retirement system is broken. With the demise of pension plans and the uncertainty of Social Security, the 401(k) is essential to the American public's retirement, now more than ever. The problem is, if you are one of the over 70 million people counting on your 401(k) to meet your future financial needs, you are likely in for a shocking discovery.

The current retirement system is broken. With the demise of pension plans and the uncertainty of Social Security, the 401(k) is essential to the American public's retirement, now more than ever. The problem is, if you are one of the over 70 million people counting on your 401(k) to meet your future financial needs, you are likely in for a shocking discovery. Most of the 401(k) plans are not set up for the participant's benefit, but instead, the financial salespeople, insurance agents, mutual funds, unions, employers and lobbyists gain. While the average American is looking for a practical, uncomplicated retirement plan that will deliver what it promises, what we currently have is a plan loaded with fees and investment products designed to siphon money out of unsuspecting investor's pockets. As Senator Fitzgerald (R-IL) noted in 2003, "The mutual fund industry is now the world's largest skimming operation-a 7 Trillion Dollar trough from which fund managers, brokers, and other insiders are steadily siphoning off an excessive slice of the nation's household, college and retirement savings." But, the great part is, we live in a country where positive change can occur! In this hard-hitting and revealing book, Bryan C. Binkholder and James A. Winkelmann examine what is wrong with the current system, how we got here, the investments that are commonly used to extract money from plan participants and what can be done to radically improve the 401(k) program with a combination of old-school pension plan design coupled with 401(k) rules. The future of the 401(k) will no longer be marked by unscrupulous financial salespeople ravaging worker's retirement accounts with sophisticated investment schemes and participants destroying their own future through their uncontrolled emotional investment behavior. Instead, every member in a company 401(k) plan will have access to the same low-cost investment used by large pension plans, coupled with plan designs that everyone from the bottle washer to the president of the company will participate in. By utilizing the future of 401(k) plans, better known as The Trustee Directed 401(k) Plan, workers and employers will once again be working together to create optimal outcomes and success.

Bryan C. Binkholder and James A. Winkelmann RF have long been catalysts for change on the financial services scene, earning the duo a well-deserved reputation as Watchdogs of the Industry. Their revolutionary approach to investing and retirement planning is empowering small businesses on a national level, as business owners gain a true understanding of the severely flawed 401(k) plan currently being pushed by the big brokerage houses, while examining realistic solutions for a sound financial future through Bryan and Jim’s teaching. In The 401(k) Conspiracy Bryan and Jim take readers behind the scenes to uncover the root of the problem in today’s financial services industry. The bottom line here is the fact that an investor can’t truly partner with an entity that does not share the same goals. Today’s investors, largely influenced by high powered marketing agendas and the charismatic presentations of commissioned sales agents, eventually come to the realization (often after suffering huge loss) that their investment firm did not have their best interests at heart. Instead of writing a book about investment strategies, The 401(k) Conspiracy is two-fold. Jim and Bryan effectively expose and address the commonly used tactics of the inexperienced and integrity lacking broker, while also detailing prudent and proper portfolio management and asset allocation strategies.