2 • MARTIN H. RUBY
skipped my graduation ceremony altogether. While my classmates were tossing their hats in the air, I was settling into a new role as an actuarial student at Traveler’s Insurance in Hartford, Connect- icut. At that point, saving for retirement was easy: I didn’t have to do it personally because my company did it for me. In the 1970s, Travelers had a defined benefit pension plan, so each year I ac- crued a portion of my salary that would be paid to me at retire- ment for the rest of my life. Amazingly, I didn’t have to contribute a cent to this plan. It was up to my employer to fully fund it. If only it had stayed that easy. By the 1990s, I was CEO of an insurance company called In- tegrity Life, headquartered in Louisville, Kentucky. And here’s where my savings plans went astray. At Integrity, we didn’t have a formal pension program. Instead, we saved in what was, at the time, the hot new savings product in America: the 401(k). If you’re reading this book, chances are you’re saving in a 401(k), too. And chances are, if you don’t make a change today, you’re going to be facing the same risks I am in the future. It doesn’t have to be that way. Here’s the secret most financial experts know, but aren’t telling you: today’s most popular ways of saving for the future are creat- ing some of the biggest risks in modern financial history. Yes, that includes 401(k)s and Individual Retirement Accounts, or IRAs. What does that mean? This book will show you. This book will teach you the New Rules of Retirement Saving and how you can use these rules to transform your savings strat- egy, eliminate risk, and increase your ability to enjoy the relaxing retirement you envision for yourself many years from now. As you read this book, you may get a sinking feeling as you re- alize you’re saving for retirement in the wrong way. I’m here to tell you, it’s not your fault. Our nation’s savings infrastructure is
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