Book Description
AT LAST, SOUND, INFORMED, REALISTIC ANSWERS FOR RETIREMENT FINANCE
Use the simple, step-by-step guidance in J.K. Lasser's Your Winning Retirement Plan to double your money for your golden years. Whether you're forecasting how much you need to be saving for retirement or are deciding how much you should be spending once you're there, acclaimed planning expert Henry K. Hebeler can get you the results you need. You'll analyze your investments and start getting the highest possible returns--with the least amount of risk; take a real-world look at your total financial picture, without inappropriate planning assumptions; and make use of a new concept called the Retirement Autopilot, which can help you budget more wisely today and ensure that your investments will last a lifetime.
Key coverage will help you:
- Beat reverse dollar-cost averaging so your money will continue to grow
- Make use of modern feedback theory to secure your finances today--as well as tomorrow
- Find solutions to different retirement scenarios, including early retirement and when only one spouse is retired
Customer Reviews:
Lasser Let Me down.......2007-08-26
Lasser is a known name in the consumer 'financial' publishing business. This book about retirement planning is very outdated and even misleading in some areas. The calculations it asks the reader to do are with pencil and paper. As my daughter used to say "A,DUUh!" There are a myriad of easy PC based tools in the market that are far superior. I would have returned the book the next day if I bought it at a local book store.
Financial Realism in Retirement.......2007-05-10
This is what happens when a highly qualified person writes a book to help others understand their retirement finances so that they can realistically plan and feel as comfortable as is possible with their present and future financial well-being.
It is based on realistic historical and mathematical facts. The planning methodology is as good as it gets. I can't say enough about how useful this book has been to me to say nothing of the confidence I now have in my personal finances. It's not enough to say that Mr. Hebeler is to be congratulated!
Good stuff.......2007-01-11
This book is different that others I have read and makes much more sense. Just wish I had it 30 years ago.
Thinking of retirement .......2006-06-28
JK Lasser's Your Winning Retirement Plan was very informative. If you are thinking of retirement you may want to read this book first. I found it helpful, and more than ever realize that I need to hire a Financial Advisor, because this is a big step. My money is going to have to get me through my golden years, hopefully for a long time.
Sage advice that will keep you on track.......2003-03-26
Hebeler's approach answered for me my most challenging questions: 1] Will my retirement assets allow me to spend what I need (want) to spend each year during my years in retirement? 2] Can I grow my assets at my desired rate while simultaneously lowering the risk of my portfolio? 3] How can I evaluate my financial health each year in a meaningful and action-oriented manner?
All your family members should read it. And if after reading Hebeler's book you still feel the need for professional financial planning, insist that he/she read it as well.
Book Description
Retire Secure! tackles the number one fear facing most IRA and retirement plan owners: running out of money too soon. Lange, a nationally recognized IRA expert, offers specific and practical strategies to successfully navigate the three stages of retirement planning: accumulation, distribution, and estate planning.
Retire Secure! explains the tax advantages and long term wealth building strategies of selectively and strategically putting money into IRAs, Roth IRAs, 401(k)s, Roth 401(k)s and the myriad other retirement plan options available to individuals working in the corporate world, the non-profit sector, as well as individual proprietors. The book proves that putting money into tax advantaged retirement plans beats “traditional saving” in the after-tax environment.
The book sheds new light on best practices for spending your IRA and retirement plan dollars and your traditional savings. Many readers will be surprised to discover that the order in which assets are spent is not a trivial consideration—it can make or break the bank.
It also outlines Lange’s exceptional estate plan–a plan that has been featured in the
Wall Street Journal and many other fine financial journals.
The book offers financial planning strategies and tactics in plain English that everyone can understand—and using humor and interesting characters in real life situations the book escapes the dreaded dry financial tome tone. For example, Chapter 1 offers a great mini case study that charts the financial destiny of Mr. Pay Taxes Later and Mr. Pay Taxes Now. Both start saving when they are age 30, but when Mr. Pay Taxes Now reaches age 90, he is broke, while Mr. Pay Taxes Later has $1,946,949 left. Chapter 8 is devoted to a complete case study of “Eddie’s and Emily’s” entire retirement decision making process.
The book is endorsed by more than 31 leading financial experts including
Charles Schwab, and
Roger G. Ibbotson, Yale Professor and perhaps the world’s foremost authority on asset allocation. As a bonus, readers who purchase this book can receive a free information-packed CD.
"
Retire Secure! is your playbook for winning the retirement game and beyond. It shows you how to capitalize on little known provisions of the tax law that will make your retirement savings last several lifetimes, leveraging your hard earned money into a family legacy. Best of all, you can rely on the advice here since it is written by one of the nation's leading retirement tax planning authorities.”
Ed Slott, Author Parlay Your IRA into a Family Fortune and
The Retirement Savings Time Bomb…and How to Defuse It
James Lange (Pittsburgh, PA) , an attorney and CPA, is a nationally known IRA, 401(k), and retirement plan distribution expert with over 27 years of experience. His recommendations have appeared 23 times in the
Wall Street Journal as well as the
New York Times,
Newsweek, Kiplinger’s, and many other prestigious financial publications.
Customer Reviews:
Excellent book on financial planing and retirement.......2007-06-12
Bravo!
This book is a must read if you're planning to retire wealthy, or at least securely.
And...
Every college student should be required to study this book carefully if they want to avoid all the common mistakes and money pitfalls that 98% of us fall into. I wish I had read this when I was in college... I would be $100,000 wealthier.
- Dave
What everyone needs to read and understand to make the best retirement decisions.......2007-01-03
James Lang has had so much excellent advice for my husband and me that we purchased 7 copies for our adult children and are hopeful they will benefit from the knowledge in the books and cds.
Retire Secure-Solid Advice For All.......2006-10-21
Reading "Retire Secure" will not alone make you rich. However, if you read and follow Mr. Lange's advice, you will build wealth and then protect it to the fullest extent possible. The book outlines a very clear path to maximize savings using the most effective vehicle available to you. Then it goes on to provide a thorough roadmap to minimizing your tax consequences and maximizing your after tax returns. Finally the book provides several different strategies for passing along wealth to your heirs while once again factoring in the greedy hands of Uncle Sam. The author not only provides you with the theory, as many financial planners do, but backs up his recommendations with solid proofs and confirms them with amusing case studies. Overall this book is an excellent source for information on the use of retirement funds for wealth building and hopefully inheritance to pass on.
Good for Advisors and Investors.......2006-10-11
James Lange's Retire Secure, offers great techniques to help persons planning for retirement. He is on the right track - to postpone and minimize the impact of taxes - in order to maximize the retiree's money and extend the spendable income. This book makes a valuable contribution to the field of personal finance - for both the consumers and the professional advisors who serve them.
My Roadmap.......2006-09-19
I find James Lange's book to be excellant. When we want to go someplace we're not familiar with, who uses MapQuest? Why? It gives us the starting point and the ending point. This book gives so much valuable information. I'll be retiring in 10 to 11 years, so my interest is quite serious. I stumbled accross Mr. Lange's website and find that to also be a fine source of information. As a 'boomer' I'm amazed at what the internet has done for our culture i.e. sharing of information.
Loren McGilvrey
Product Description
In recent years many smart investors have exited the stock market because they have essentially lost control of their investments. They have relied on the advice and skill of their brokers, bankers, and financial advisors. Many retirement accounts have dwindled or not increased. Fortunately, there is a great but little-understood alternative: the self-directed IRA. This new book will teach you how to turn your IRA into a wealth-building tool that you control 100%! Take control of your investment future, and make sure your investments are performing for YOU, not someone else. Why haven t your banker and broker ever told you about this new IRA? Because they will no longer make any money on your retirement account! New IRS regulations and the new self-directed IRA make it effortless to build up and keep hold of IRA money. Inside this new book you ll find out how to benefit from the new IRS rules and how to stay away from problems. With a self-directed IRA you can purchase real estate, buy a business or franchise, invest in high-yield mortgages and notes, invest in tax liens and foreclosed homes, manage property purchased by your retirement, rental property, ocean-front property, lake-front property, probate property, commercial property, REO property, tax-lien property, repossessed property, foreclosed property, apartment communities, and storage facilities. You can invest in stocks, bonds, mutual funds, or virtually any investment allowed by IRS regulations. The self-directed IRA lets you act as your own investment manager. We will show you how to set up your account with a custodian or IRA administrator to deal with the day-to-day activities, such as depositing contributions and executing and settling investment transactions. It s easy, fun, and puts you back in control of your retirement account. Retire Rich with Your Self-Directed IRA combines essentials, insight, and insider secrets to secure a financial victory after retirement. **Award-Winning Finalist in t
Customer Reviews:
If You Didn't Know Before, Now You Do!.......2007-03-23
From the moment you start reading Nora Peterson's book, Retire Rich With Your Self-Directed IRA: What Your Broker & Banker Don't Want You to Know About Managing Your Own Retirement Investments, you cannot help but feel at ease. It is clearly arranged in a very orderly fashion and very easy to follow. The use of her fictional character Jo, made it easy for you to follow along as if you too were walking along with Jo in her journey to financial stability after retirement. This book offers great insight into a world that many are afraid to even venture near, myself included. The step-by-step approach with the aid of the IRA Primer would help even the most common person with no prior knowledge or understanding of finance. It forces one to think about their goals in a long-term sense. The discussion around estate planning is one that is seldom addressed when planning for the future. It is necessary for a person to understand the tax codes and laws governing IRA's and other forms of retirement investment, especially when trying to avoid penalties and other losses to future income. The non-traditional forms of investing using the self-directed IRA were also very clearly explained and encourage the reader to think for him or herself. We are the arbiters of our own destiny! I would highly recommend this book for anyone who has questions or have not previously thought about preparing for their financial future.
Irate with your IRA? Read this book!.......2006-12-19
Are you 20-40 years old? Do you have $100,000 in liquid assets? Does your company provide a 401(k)? How about IRA's? Are you a current contributor to one? Would you like to retire in comfort, preferably before you are 70?
If you answered yes to any of these questions, then this is the book for you. I'll admit up-front that I only answered yes to three of these myself - and the liquid assets and 401(k) were not them. I bought this book, but I was afraid it would be filled with technical mumbo-jumbo that would make my eyes glaze over in defeat. Luckily that was not the case at all. In fact, I read this book in less than 24 hours, and plan on reading it again and again and . . .
Peterson starts out slowly, explaining assumptions and terminology. Then we get to meet Joanne Moneymaker (that's Jo for short) who, after being a victim of corporate downsizing, has to decide what to do with her 401(k) funds. The author walks her through all the choices, explaining them in simple language with plenty of illustrations and charts - and the benefits and disadvantages of each. For those of you who are more advanced than I, you can skip the first few chapters and plunge right on in to the hard numbers. Penalties, taxes, and general IRS red flags are covered and warnings are peppered throughout. That being said, this book walks a person through taking charge of their own retirement and finances by moving to a self-directed IRA and using said funds to:
1) Buy and sell real estate - traditional versus nontraditional real estate sources
2) Become a landlord
3) Become a lender
4) Owning a business
5) Buying precious metals
Additionally, Peterson covers areas within these divisions such as risk management, repossessions, REO properties, subcontractors, and credit risks. The book ends with planning for distributions and quite a bit of information about estate planning. Unfortunately, I am not in a position where I can go out and buy properties or make loans or buy precious metals. However, now I know what is out there and what I need to work towards. Whether you're just starting to plan your retirement or are well into the process, there is something here for you. Call it IRA's demystified!
At Last! A Book That Leads the Way to Financial Independence!.......2006-12-16
I'm not an investment expert--far from it. Truth is, I'm a Baby Boomer who's been ignoring one important financial fact for way too long: I'm getting closer and closer to the age when I'm "supposed to be" retiring comfortably. And I'm only now starting to worry about not being able to afford to retire.
Imagine my relief when I discovered Nora Peterson's Retire Rich With Your Self-Directed IRA and learned that it's never too late to put a game plan in place to accumulate greater retirement wealth. I can still chart a successful course to financial independence. Using a fresh, conversational tone that makes no lofty assumptions about the reader's investment smarts, Peterson delivers solid, nuts-and-bolts guidelines for finding and using the money-making tools and techniques we've all had access to all along--but didn't know about!
By putting readers in the imaginary shoes of Joanne Moneymaker (Jo), the book steps us through a broad range of real world scenarios and little-known, proven strategies for taking control and steering past, present, and future IRA retirement funds toward greater wealth. Through Jo, we learn the secrets of paying less taxes, keeping what's ours, and building strong and sustained return on our investments. Nora Peterson's Retire Rich With Your Self-Directed IRA has arrived just in time with good news for us "boomers": A comfortable retirement is within our reach. And by using the know-how contained in these pages, we'll get there!
Take Control of Your Retirement Investments!.......2006-11-02
It's a revelation! I happened upon this book and it revealed to me retirement options that I had no idea existed. The author, Nora Peterson, explains that unlimited opportunities exist for increasing the value of retirement accounts through the use of a self-directed IRA.
Instead of traditional approaches to investments, she says, consideration should be given to a self-directed IRA . . . a method of investment that is significantly more flexible than conventional IRA and 401(k) plans, conforms to IRS rules, and offers the investor full control over his or her accounts.
The book compares the results of investing using conventional strategies with the self-directed IRA and explains the route and rules for setting up a self-directed IRA. Ms. Peterson also describes investment options that I had not before considered, like investing in real estate-secured notes, real estate purchase options and precious metals, and includes chapters on estate planning and planning for distributions for the IRA account.
This books presents a novel approach to retirement investments, and presents it comprehensively. It's a more than worthwhile read.
Retire Rich with Your Self-Directed IRA: What Your Broker & Banker Don't Want You to Know About Managing Your Own Retirement Inv.......2006-10-21
Retire Rich with Your Self-Directed IRA: What Your Broker & Banker Don't Want You to Know About Managing Your Own Retirement Investments by Nora Peterson, published by Atlantic Publishing Group, Inc.
Rating: 5 stars out of five.
If you've ever lost money in the stock market while relying on a broker, banker, or other financial advisor, this book is for you. Retire Rich with Your Self-Directed IRA describes an alternative to letting others manage your retirement investments, the self-directed IRA. This book explains in 345 pages how to use an IRA, usually a Roth IRA, to build wealth through your own control. It covers setting up an IRA, the kinds of funds to invest, and how to move funds from a standard IRA to a self-directed IRA. It also describes how to manage your investments while allowing an administrator to handle the day-to-day paperwork, the laws of which to be aware, and how to avoid pitfalls in very specific advice. Insider secrets are included.
The author, Nora Peterson, has been involved in investing in financial markets for more than 30 years. In this excellent resource, she discusses a wide range of investments brokers don't offer and estimates potential returns. The returns she projects are much larger than earnings from stock market investments would be. In addition, she explains that there are no taxes on investment income from a Roth IRA, because the investment has already been taxed. This results in significant tax advantages of which I had never been aware. Everyone planning for retirement should read this book. It opened my eyes!
Customer Reviews:
Enlightening Book!.......2007-09-29
If you have felt lost and befuddled while staring at a 401K quarterly statement trying to figure out each financial term or if you avoid working on such seemingly complicated subjects such as selecting your investment choices for an IRA (Individual Retirement Account), wait because Gail MarksJarvis untangles all the mess of the financial jargon right in front of your eyes. This book goes right to the core of the problem and solves it. This book is aimed at the people who need to know how to make good choices confidently for their retirement investment plans. After reading this book you will feel empowered by knowing exactly what to do regarding investment planning and you will also save thousands of dollars following her outstanding advice.
Good advice.......2007-08-27
But why all these good practices cannot be performed by the state itself, instead of the individuals??
Excellent plain english guide.......2007-07-17
After purchasing several retirement books, this book stands out for the no nonsense approach to retirement. The books also provides web links with up to date tools and calculators that make it even more practical. One especially great feature of this book is that regardless of your age, income, or current retirement knowledge, it provides a way for all to get in the game and get on track to retire. I highly recommend this book.
Precious book!!!!.......2007-06-29
At the end of the book, I logged into my 401K and immediately noticed that I was not diversified. With what I learned in the book, I was able to change my investment direction percentages with confidence and knowledge. This book to me is a vaulable tool.
Well Done Gail!.......2007-06-22
I had the pleasure of hearing you speak at the Mpls/S. Paul Investors Fair several years ago. I've been a fan of your column and have the newspsper clippings to show for it. Thank you for putting all of the down-to-earth knowledge in a well written and easy to understand book. I've used several of the calculators and realize I have to beef things up a bit although I'm not in as bad a shape as I had thought. This is truly a "must read" for anyone interested in getting a handle on their retirement planning. I know what I'm giving everyone for presents this year! Thanks Gail!
Book Description
Ed Slott is without a doubt “one of the country's leading IRA experts” (Reader's Digest). Appearing at a time when virtually everyone is concerned about retirement savings, this authoritative thoroughly accessible book presents an easy-to-follow plan for making money—a lot of money— with your IRA. Slott shows readers how to choose the right financial advisor, manage vital information and deadlines, and create a retirement fortune that will not only benefit the individual, but continue to enrich beneficiaries for generations. This powerful, straightforward tool is the book for Americans interested in creating a fiscal windfall for the future.
Customer Reviews:
IRA for the long term.......2007-06-27
I think I understood the underlying theme of this book, but the author made it more difficult to read and understand than need be. It seemed he was trying to be either clever or funny to the detriment of the content.
Help when I Need It.......2007-01-13
ONly on the first chapter and already learning what I should be doing. Easy to read and understand. With book's help I may be able to save a lot of money.
Concise info on stretch IRA's.......2007-01-04
Ed Slott is considered THE expert on stretch IRA's. Book is aimed at investors who will probably die before depleting their IRA funds. It explains how to structure a stretch IRA to pass this money on to future generations with minimal taxation.
Book is better organized than Slott's previous books. It is very readable. I keep it for a reference and have purchased additional copies for gifts.
Requried Reading for Anyone with an IRA........2006-07-23
This book focuses on ensuring that your IRA is properly set up, so that it can be passed on to beneficiaries intact, effectively establishing a "stretch IRA". The stretch IRA describes an IRA held by a beneficiary, and which will pay out over their lifetime.
This book is very well organized, and the author is clearly very enthusiastic about his subject. He does quite well making his case, that you should ensure your IRA passes intact to a beneficiary, in that it can offer them HUGE tax advantages for their entire life time.
He is also quite good about explaining the steps you need to achieve this. Much of the book is reference material that will not apply to everyone at any given time, but that is not a real criticism. The book is cheap enough, and the sections that apply to all are worth the entire purchase price.
If you have an IRA, and you have any desire to pass your assets along to a beneficiary, this book is an excellent starting point.
Book Description
For decades, banks and brokerage houses have effectively convinced us that IRA holdings can be invested only in stocks and CDs. Then, with the sharp decline in the stock market, most of us could only stand by and watch as our retirement savings lost their accumulated value. Few knew that there was an alternative which offered both safety and growth. That alternative is real estate. That's right. Contrary to what you may have believed, it is perfectly legal to hold real estate investments in an IRA account—and to enjoy unprecedented returns. For nearly twenty years, IRA investment expert Patrick W. Rice has taught thousands of men and women his revolutionary strategies for using an IRA to create wealth based on real estate. In his new book, Mr. Rice shares all his moneymaking strategies with you. Within the pages of IRA Wealth, you will learn how to:
• Turn your old IRA into a self-directed account that puts you in charge.
• Buy income-producing properties, from rental houses to commercial buildings.
• Purchase high-yielding real estate-backed notes.
• Buy your dream retirement home now.
• Loan money to family and friends while building your IRA.
• Form limited liability companies that multiply your investment power.
• Buy yourself a thriving business—or a great job.
• Reduce your risks while boosting your returns.
Although it may be a little late to avoid the volatility of the stock market, the lesson has been simple: Don't put all your eggs in one basket. IRA Wealth offers an entirely new basket—one that holds golden eggs for a bright and rewarding future.
Customer Reviews:
Women, IRA Self-direction puts you in control.......2007-08-25
This book is a great guide to the concept of self-directed IRAs. Everyone with an IRA or 401K over $50,000 should be considering this option. There is no limit on the returns you can realise in your IRA account. Take this authors advise and go for mazimun returns on investment you control. It's legal and it makes sense. This is one of the stategies every women needs to understand to gain financial independence. Knowledge and a wealthy mindset as recommended in "A Man Is Not A Financial Plan!" helpA Man Is Not A Financial Plan! make women wealthy and wise.
WOW! A way to invest and have control at the same time.......2007-07-26
This book got me started asking my financial advisor and the local bank financial advisors questions. I had been told I could not use any of my retirement funds to invest in real estate. I know better now and so do they.
Good book, this type of investing comes with risks and it is expensive because an intermediary has to be used (just a couple of things to weigh into the decision to or not to use). Not something to jump into lightly, good beginning book but recommend getting additional information on the subject and discussing it with your accountant prior to attempting it. If you do decide to plung in, do extensive research on the intermediary companies - be sure they are legit, have bullet proof references and actually ask to talk to current clients. Compare costs, services and reputation - cheapest could cost you dearly in the long run.
Very good. Worth every penny, and then some. .......2006-10-29
A good read, with lots of helpful information. Frankly, I wish there were MORE books on the subject of self directed IRA's, particularly real estate investing via self-directed IRA's. That being said, I'm convinced this is one of the best books you'll find on the subject.
If you're looking to pump up your IRA with smart real estate investments, this is a good book to have on hand. Highly recommended.
Good Roadmap for IRA Real Estate Investment.......2005-08-26
This book is a good general overview of the structure for investing self-directed IRA funds in real estate, as well as the major busines, tax and legal concerns involved. It is not overly general nor overly technical and is an easy read. It's a good roadmap for the first-timer.
Simple, maybe too much so........2004-11-07
Very basic guide to IRA conversion/self-directed IRAs. Probably helpful to a novice, especially someone nervous about taking control of their own fund. For someone who is an experienced real estate investor, used to considering (eg) tax consequences, depreciation issues, leverage issues, etc., not very helpful at all. I was especially disappointed that there was not more specific information about what was actually necessary to convert 401Ks to self directed funds, and more analysis of what to look for in a fund administrator.
Book Description
Real estate investment strategies that put the gold in the golden years
This accessible, easy-reference guide shows how to turn a retirement savings plan into a tool for generating major income. Hubert Bromma, an experienced investment professional in real estate and retirement funds for nearly 30 years, take you through the basics of investing with retirement accounts, from choosing the right plan to buying real estate. The book also includes information about the various retirement options, including IRAs, Roth IRAs, individual 401(k)s, and more.
Customer Reviews:
Informative but not Objective.......2007-03-21
Written by the top officer of Entrust, whose business is to manage self directed IRAs, this book is not to be taken as an objective analysis of the benefits and drawbacks of buying real estate within a self directed IRA. Although never actually lying (I'm sure Entrust's attorneys made sure of that), it avoids the topic of fees and lack of control, that are involved in maintaining any real estate investment within an IRA. It also doesn't mention any of the costs of setting up an LLC with one or more members. Setting up an LLC is a likely scenario and was, in fact, recommended to me, by Entrust. Buying real estate within an IRA is very different than doing the same investment outside of an IRA. Given the fees involved with this type of investment, what would be the minimum investment recommended to absorb these fees/costs and still realize an acceptable return? No answers here. Examples of returns are unrealistic in today's more normal market conditions. The author does make some good points, and the concept is really great. But buyer beware. I was so disappointed to come to the conclusion that buying a $350K investment property, using the required non-recourse loan with a higher rate, and setting up an LLC with 2 members (the bank and my IRA) was too complicated and restrictive. This book is an excellent starting point, but the drawbacks either aren't mentioned, nor fully addressed. Basically, the author is selling. Remember what he does for a living. Get your highlighter out and read carefully!
Book Description
Ed Slott's book The Retirement Savings Time Bomb . . . and How to Defuse It taught Americans how to protect their hard-earned cash from the IRS's coffers. Now, “America's IRA expert” (Mutual Funds Magazine) returns with a bulletproof plan for ensuring your IRA's continued longevity, tax-favored, for generations.
In Parlay Your IRA, Ed Slott shows you how to make the most out of your retirement plan. Slott's three-step strategy cuts through the tax laws and provides simple, easy-to-follow instructions for managing your IRA and other retirement income. Learn what you can do to parlay it into a fortune during your lifetime, and what you must do now to ensure that your beneficiaries will have all the options available to capitalize on the opportunity you've created for them to keep your money growing.
Packed with strategies, tips, answers to frequently asked questions Parlay Your IRA into a Family Fortune offers real solutions to making the most of your retirement money.
Learn how to:
* Achieve unlimited tax-free income when you retire.
* Pass more assets on to loved ones and other beneficiaries
* Keep retirement assets in the family for decades, even generations, and pay minimal or no taxes
*Protect your retirement account from creditors, divorce, bankruptcy, lawsuits, or other problems that could expose it to loss
*Use a Roth IRA to build a tax-free fortune
* And much, much more
Customer Reviews:
excellent source of information.......2007-01-12
I found this book to be very helpful in my financial planning for retirement...it gives easy to follow steps,suggestions,ideas and guidelines for maximizing your IRA's,401k's and retirement funds. Ed Slott has provided us with another excellent source of information for the everyday Joes like me....he does not overwhelm you with minutia and needless facts and figures...By reading this book you may not become an IRA guru but it will enable you to ask the right questions to your professional financial planner.I have passed it on to my family members to read and make their financial plans accordingly.
IRA Bible.......2006-11-04
The author is easy to understand and makes this highly specialized material fun to read. I refer to this book and Mr Slott's other book, "The Retirement Savings Time Bomb" as my IRA Bible's. This is a must read for financial services professionals and consumers with money in IRA accounts.
Excellent information on Trust and IRAs.......2005-11-26
Ed does a great job on giving you detailed information of how to stretch your IRA assets for the next generation. He also does a great job of including information on how to write your trust so that you can control your assets beyond the grave. This is mainly important for clients who have lots of assets in their IRAs or for people who just pass away before they use their IRA assets. Since you don't know when you are going to pass away, I think it is important to get your trust and your IRA beneficiaries set up as soon as possible.
One downside of this book is that Ed seems to sell more of his stuff - his newsletter and his training. If you read his books, I think you have most of the information you need unless you run into very complicated situations. If that happens, then I would suggest getting a good financial advisor, CPA, and an estate planning lawyer to assist you.
Little added.......2005-09-04
Ed Slott repeated alot of what was included in "The Retirement Savings Time Bomb...", so I was not as impressed with this book. You can get 98% of what to do in the "Time Bomb". But if you really want to save all your money to your kids and their kids, it should help you.
Parlay Your IRA into a family fortune.......2005-08-02
Very good information. Is vital information that would be very useful to anyone with a large IRA and a significant number of beneficiaries.
Amazon.com
IRA's, 401(k)s & Other Retirement Plans, by financial specialists Twila Slesnick and John C. Suttle, is a solid self-help legal look at a critical back-end issue that most of us blissfully ignore until we absolutely must confront it. The authors themselves admit it is not a compelling page-turner, but rather a comprehensive resource that at some point should prove indispensable to everyone with a retirement plan. They describe the various plans available--including Roth IRAs, to which an entire chapter is devoted--focusing on distribution rules, associated taxes, and potential penalties. They offer details on early distributions used to pay higher-education expenses or health-insurance premiums (which are not subject to taxes, under certain explicit conditions), distributions you must take during your lifetime (when they begin, how they're computed, what happens if your beneficiary changes), and distributions made after an account holder dies (largely concentrating on administrative procedures that could help you avoid unnecessary financial loss). Helpful appendices include relevant IRS forms, notices, and schedules as well as life-expectancy tables. --Howard Rothman
Book Description
If you are...
*approaching retirement *retiring early *changing jobs *looking to borrow money from your retirement plan *wondering what to do with an inherited plan
...you need this book! It helps you make sense of the rules that govern distributions from retirement plans, and avoid the stiff penalties that lurk in the fine print. It covers the different types of retirement plans -- including 401(k)s and other profit-sharing plans, Keoghs, IRAs and tax-deferred annuities -- and the taxes and penalties that can deplete your nest egg.
In accessible, plain English, this book covers:
*tax strategies before retirement *tax strategies at retirement *dividing a plan at divorce *penalties for taking money out early *minimizing taxes *distributions you must take *distributions to your heirs
The 7th edition is completely updated with the latest tax rates, tables and methods for calculating required distributions. It also provides new information on Roth IRAs and bankruptcy.
With this book as your guide, you'll know the rules, avoid the penalties and save for your future like a pro.
TABLE OF CONTENT:
I. How to Use This Book
1. Types of Retirement Plans
A. Qualified Plans B. Individual Retirement Accounts C. Almost-Qualified Plans D. Nonqualified Plans
2. An Overview of Tax Rules
A. Taxation Fundamentals B. General Income Tax Rules for Retirement Plans C. Income Tax on Qualified Plans and Qualified Annuities D. Special Income Tax Rules for Tax-Deferred Annuities E. Special Income Tax Rules for IRAs F. How Penalties Can Guide Planning
3. Early Distributions: Taking Your Money Out Before the Law Allows
A. Exceptions to the Early Distribution Tax B. Calculating the Tax C. Reporting the Tax D. Special Rules for IRAs
4. Substantially Equal Periodic Payments
A. Computing Periodic Payments B. Implementing and Reporting Your Decision C. Modifying the Payments
5. Required Distributions: Taking Money Out When You Have To
A. Required Distributions During Your Lifetime B. Death Before Required Beginning Date C. Death After Required Beginning Date D. Special Rules for Tax-Deferred Annuities E. Special Rules for Roth IRAs F. Penalty G. Waiver
6. Required Distributions During Your Lifetime
A. Required Beginning Date B. Computing the Required Amount C. Designating a Beneficiary D. Special Rules for Annuities E. Divorce or Separation
7. Distributions to Your Beneficiary If You Die Before Age 70½
A. Determining the Designated Beneficiary B. Distribution Methods C. Spouse Beneficiary D. Nonspouse Beneficiary E. No Designated Beneficiary F. Multiple Beneficiaries, Separate Accounts G. Multiple Beneficiaries, One Account H. Trust Beneficiary I. Estate as Beneficiary J. Annuities K. Divorce or Separation L. Reporting Distributions From IRAs
8. Distributions to Your Beneficiary If You Die After Age 70½
A. Administrative Details B. Spouse Beneficiary C. Nonspouse Beneficiary D. No Designated Beneficiary E. Multiple Beneficiaries, Separate Accounts F. Multiple Beneficiaries, One Account G. Trust Beneficiary H. Estate as Beneficiary I. Annuities J. Divorce or Separation
9. Roth IRAs
A. Taxation of Distributions B. Early Distribution Tax C. Ordering of Distributions D. Required Distributions
Appendixes
A. IRS Forms, Notices, and Schedules
Form 4972, Tax on Lump-Sum Distributions Tax Rate Schedule for 1986 Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts Form 5330, Return of Excise Taxes Related to Employee Benefit Plans Form 5498, IRA Contribution Information Form 8606, Nondeductible IRAs Revenue Ruling 2002-62
B. Life Expectancy Tables
Table I: Single Life Expectancy Table II: Joint Life and Last Survivor Expectancy Table III: Uniform Lifetime Table Table IV: Survivor Benefit Limits
Index
Download Description
"If you are... approaching retirement retiring early changing jobs looking to borrow money from your retirement plan wondering what to do with an inherited plan ...you need this book! IRAs, 401(k)s & Other Retirement Plans helps you make sense of the rules that govern distributions from retirement plans, and avoid the stiff penalties that lurk in the fine print. It covers the different types of retirement plans -- including 401(k)s and other profit-sharing plans, Keoghs, IRAs and tax-deferred annuities -- and the taxes and penalties that can deplete your nest egg. In accessible, plain English, IRAs covers: the tax strategies before retirement the tax strategies at retirement dividing a plan at divorce tax penalties for taking your money out early methods for avoiding tax penalties distributions you must take during your lifetime distributions to your heirs after your death Roth IRAs With this book as your guide, you'll know the rules, avoid the penalties and save for your future like a pro. "
Customer Reviews:
Great Book!.......2007-02-16
Excellent reference on how to extract money from retirement plans. Gives specific requirements necessary to receive penalty free withdrawals. I highly recommend this easy to understand, plain english book.
Crucial Information.......2006-07-20
This book contains must have information for anyone owning an IRA. I had a previous version and wanted to keep current as I approach the magic age. This book tells you how to avoid fines and penalties from the dastardly IRS. Keep as much of your hard earned savings as possible for as long as possible by reading this book several times then saving it for future reference. I also marked many pages for my beneficiaries just in case. Do yourself a favor and invest in this book.
Very User Friendly!.......2005-08-29
The book is well organized. I was able to use it, immediately, to answer 'basic questions' to help a relative avoid a costly mistake and, more importantly, to learn 'options' that could help. Though I am an insurance agent, I've had little exposure to the 401(k), IRA, etc., market. This book is quickly moving me to the 'top 20% group' of informed agents and financial advisors. I highly recommend it, thanks to Ed Slott!
Pay attention to the sub-title.......2005-05-06
The reviewer plugging the "MarketBuster" book has totally missed the point of this NOLO book, which is given in the subtitle: Taking Your Money Out. The reviewer is talking about strategies for growing your account.
When you're in the savings/growing mode you're in a whole different situation than you're in when you're having to withdraw and/or live off your account. Going from one to the other requires a major change in strategy and, more important, a MAJOR change in mindset and, often, life style.
You're confronted with a whole new set of regulations, whether the reason for the change is retirement, inheriting an account, etc. The biggest change in mindset is that instead of the pleasant pre-retirement situation of watching the money accumulate, you have to recognize that you're now going to be watching it DECLINE. And unless you've got a tremendously more than sufficient account, you're going to have to live with the knowledge that you could outlive the account, possibly due to your own mistakes, some of which this book can help you avoid.
Four years ago I was confronted with making this shift a whole lot sooner than I'd planned, and with getting control of my retirement accounts under conditions where I had little help. Without the previous edition of this NOLO book, I would have been totally lost and probably made serious mistakes.
Now, one caveat: This book does not tell you how to MANAGE your withdrawals and account so as to produce INCOME; as one should expect from NOLO press as a LEGAL advice publishing house, it deals with the nuts, bolts, traps and hazards of the PROCESS of getting the money out.
In my situation I also found that there is not a whole lot of good material out there on the subject of managing your money and account IN the WITHDRAWAL stage, and this subject is affecting more and more people, as the country shifts from defined benefit (pensions) plans to plans like 401Ks and IRAs that place the job of investing and managing on the individual.
It is a whole lot more complex, risky, and stressful than most people realize, especially considering the general abysmal education (lack of) even young people receive on the subject, let alone people my age who were raised to count on pensions, etc. (And thank goodness for Social Security, which while far from adequate, can still supply a firm base of about 30 to 50% of a retirement income; although that's another issue)
So I recommend this book as essential for the basic procedures, but you will also need additional information on how to manage your income account(s). Personally, in addition to a good fee based financial planner, I found invaluable help from folks who have actually been doing the job for years, especially in the forums of Morningstar, for example. But you have to be on constant alert for scamsters and the whole "how to be a billionaire" publishing crowd. You're going to have to invest some serious time and effort in educating yourself for a the whole new job of retirement, and this book is an excellent place to start, preferably BEFORE you actually have to start TAKING YOUR MONEY OUT.
A practical, easy-to-understand instructional.......2004-10-12
Now in an updated and expanded sixth edition, IRAs, 401(k)s & Other Retirement Plans is a solid guide written especially for lay readers to better understand the types of retirment plans available in America. From tax issues, including taxes on early distributions, to the time at which one is required to take some distributions, to determining one's designated beneficiary in case of premature death, and much more, IRAs, 401(k)s & Other Retirement Plans is a practical, easy-to-understand instructional. Highly recommended for anyone cultivating an IRA or concerned about ensuring that the right person benefits from it.
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Getting Started in A Financially Secure Retirement (Getting Started In.....)
Retirement Bible
The New Rules of Retirement: Strategies for a Secure Future
IRAs, 401(k)s & Other Retirement Plans: Taking Your Money Out
Live it Up without Outliving Your Money!: 10 Steps to a Perfect Retirement Portfolio
