IRAs, 401(k)s & Other Retirement Plans: Strategies for Taking Your Money Out

by Twila Slesnick, John C. Suttle

Save your nest egg from the IRS

About to retire? Over 70 and facing mandatory withdrawal rules? Just inherited money from a retirement plan?

Whether you have an IRA, Roth IRA, 401(k), Keogh or other retirement plan, this book will help you make sense of the rules for taking your money out. Even more important, it will show you how to avoid the stiff taxes and penalties that lurk in the fine print. It

Genres: Finance, Nonfiction

395 pages, Paperback

Published June 26, 2017

Reviews

[William Schram · Rating 4 out of 5]

Retirement plans are necessary if you don’t want to work for the rest of your life. On the one hand, I am only thirty-three years old; I have quite a few years ahead of me before I can retire. On the other hand, it is never too early to start preparing for retirement. While I feel pretty fit right now, there is no telling how long I will be able to do what I do or how long I will feel like working. I guess that is why I picked up this book from the Library. I have no experience with investment plans, so hopefully, this book gives me a good grounding in understanding the gist.

The book has a long title, but it isn’t as bad as early books on various subjects. This book cuts through the complications of the United States tax code and gives you the information in plain English. If you have a retirement plan or are planning to have a plan, this is an invaluable resource. There are various caveats, but they only apply to certain situations. For example, as I mentioned before, the book focuses on the United States Tax Codes. If you live in Europe or Canada or some other place that allows people to retire, this book won’t really help you all that much. However, that much should be obvious, right?

The book is made up of ten chapters and two appendices. There is a ton of legal mumbo-jumbo that is cut out of the book, making it accessible to the layman. It goes over each distribution plan and talks about a number of other things. I would recommend this book if you have a retirement plan or want to retire eventually. The only real problem with this book is that it is printed material and Tax Codes are constantly changing. To counter that it has a link to a website that can help you out.

[Bri · Rating 4 out of 5]

I was hopping for more info on a Roth Conversion Ladder.

[Casey Corless · Rating 3 out of 5]

Decent book with good basic info. The section on SEPP was particularly helpful with good resources. I read 13th edition but would recommend most recent editions for most accurate info.

[Karen B · Rating 1 out of 5]

Very outdated. Copyright 2007