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

by Twila Slesnick, John C. Suttle

Take cash out of your retirement plan while avoiding taxes and penalties





If you have a retirement plan, IRAs, 401(k)s & Other Retirement Plans is your comprehensive guide to taking money out of it. Make sense of the complex tax rules governing when you can — and when you need to — take money out of your plan, and how much you can take out. Most importantly, avoid the penalties that many folks have to pay because they don't take their required minimum distributions.





In plain English, this book covers the most common retirement plans, including 401(k)s, IRAs, profit-sharing plans, Keoghs, pensions, and tax-deferred annuities. It helps you answer these

Genres: Finance, Nonfiction

410 pages, Kindle Edition

Published June 9, 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