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"IRAs, 401(k)s & Other Retirement Plans": Taking Your Money Out
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$ 27.29
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| Retail Value |
$ 34.99 |
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$ 7.70 (22%) |
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| Item Number |
1998249 |
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Item Description...
Product Description
More than 78 million baby boomers, representing some 29% of the U.S. population, are approaching retirement, and about 58 percent of retirement assets are in defined contribution plans.
If you want or need to take money out of your retirement plan-whether you've inherited a retirement plan, wish to buy a house, or just need money-IRAS, 401(l)s & other Retirement Plans will help you make the best choices concerning these plans, and cope with the accompanying rules and regulations. Filled with sample forms and charts, this book covers:
tax strategies before and at retirement
penalties for drawing money out early
distributions you must take
minimizing taxes
distributions to your heirs
...and much more, including explanations of all the common types of retirement plans including 401(k)s and other types of profit-sharing plans, Keoghs, IRAs, and tax deferred annuities.
The 9th edition incorporates the changes brought about by the Pension Protection Act of 2006, and includes all of the information regarding the new rules for taking money out of Roth 401(l) plans and anticipated changes to Roth IRA conversion rules.
Outline Review
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
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Item Specifications...
Pages 308
Dimensions: Length: 8.9" Width: 6.9" Height: 0.8"
Weight: 1.25 lbs.
Binding Softcover
Release Date Jul 10, 2009
ISBN 1413310311
EAN 9781413310313
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Availability 0 units.
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Reviews - What do our customers think?
 | Helpful-lots of information to plod through Jan 7, 2010 |
One of the best things I liked about this book was the small section before the chapter starts that tells you if you should even start to read the chapter and a sentence or 2 on what it is about.
This book is very thorough and it will definitely take a while to read through even if you have quick questions. Most of the book concerns how to plan which IRA is the best for you and the benefits or lack of with each. There are a lot of tricky rules, about withdrawals, early withdrawals, taxes and/or penalties on different IRAs that are worth considering and understanding before investing.
This was very sobering look into the future and well worth the time and effort to plod through. There is a fair amount of math involved as it helps you calculate how much you will need to invest to live the style you would like. (The appendix at the end is filled with tax forms- yuck!) And frankly if you are not mathematically minded you may just want to give up even though they do give several examples.
In summary, I think this book does give you everything you need to know. For myself it helped me get an idea of what I wanted to do without feeling like a complete dummy. But a lot of the book involves more complicated stuff (taxes etc.) which are not so straightforward although the book tries to make it easier. If you are analytical or good mathematically I believe this will be great, probably a breeze but if you are challenged (like me) you might want to read it for the general info and then see a specialist to help you plan further.
| | |  | Rises above the "Retirement for Dummies" books on the market Dec 27, 2009 |
If you are getting close to retirement, or you are not close, but are considering starting a plan or withdrawing or rolling over your hard earned funds, this book is for you.
In plain and crisp language, this book describes (1) various types of retirement plans, (2) tax rules governing retirement savings, and (3) the mechanics and impacts of various retirement payment methods. In other words, the book describes what to do before and after retirement so that you maximize your funds and minimize taxes. The authors make their work understandable, while raising the discussion at least one step above what you might find in a "Retirement for Dummies" volume.
I have friends on all points of the retirement continuum. Some are just starting, others are mid-career, and a lucky few are counting the days until their most onerous task each day will be fetching the mail. This book would be a valuable addition to everyone's bookshelf.
Rating: Five stars
| | | | A good explanation of taxes for IRAs, 401(k)s Dec 22, 2009 |
| Ah, the good old days of lifetime employment and full pensions....gone. So, how do you make sense of the convoluted tax structure surrounding these retirement "investment" vehicles when putting money in and getting it out? There are, of course, the tax forms and booklets from the IRS. If the government was good at writing those in an understandable fashion, TurboTax would never have been as successful as it is! This Nolo guide addresses getting it out, as stated in the third sentence of the text, "This book is about how to take your money out of your retirement plans." It tackles the rules for withdrawals, distributions, tax implications, and so forth for various types of retirement plans. The goal is to understand it enough to plan better to minimize associated taxes or penalties. Though I still have a fair amount of time before I can do so in a retirement sense, I found the book makes the topic approachable, like most Nolo titles, and provides enough information to better communicate with your adviser or planner. They augment the text with tips, cautionary items, and plenty of examples. This is a good additional to your financial reference library to supplement investing and managing your money. | | | | A must have for people working with Roth IRAs Nov 19, 2009 |
I know I'm not alone in that I'm cautious about what to do with investments in an economy where situations are changing for companies, industries, and even entire countries. If you work with investments, you need a handy reference to quickly figure out what changing these investments, or liquidating them, entails.
This book is a real comfort to have. You quickly can find the information you need. It's not really a book one has to read cover to cover, though it's written well enough that I actually did just that, almost on accident. This really is perfect for someone like me who needs extra information about Roth IRAs. I really like that it's to-the-point.
The book goes into depth. If you are not a professional in a financial field, this might sound like overkill, but it's easy for anybody interested to read without being basic. This is probably as good as this kind of book ever gets! | | | | All about getting your money out of IRAs and 401Ks Nov 8, 2009 |
| This book is about the nuts and bolts of how retirement plans work in relation to IRS tax guidelines. It is not about how to position your money in investments or rate of returns or compound interest. It is all about taking your money out with minimum penalties and taxes once you are ready to retire. While this book is not fun to read, it does give you all the information you will need to understand how 401Ks and IRAs work. It shows how the original tax deferred kind or the after tax Roth can be contributed to and when you can start drawing out your money with out penalties. You will learn the specific percentage of penalties you must pay if you draw out money before you are 59 1/2 years old and also how much is mandatory to start pulling out after you are 70 1/2 depending on which plan you are in. The book explains how to roll over a 401K to an IRA account with out getting hit with early withdrawal penalties and income tax. It is very important that it rolls over directly to the new account and you never take possession of the money or it will count as an early distribution. I was surprised to see that my family income make me ineligible for an IRA because my employee provides a 401K. The book explains what formula to use to figure out what amount you must take each year after you retire based on your age and sometimes your spouses age also. It goes into great detail about all the rules and laws concerning inheriting a retirement account when the owner passes away. The book is set up in a way that it can be used as a reference to find out what you need as you go through the process of retiring and getting your money out of your account and into your pocket. This book will enable you to discuss your IRA/401K distribution plans with your tax professional in an informed and intelligent manner. | | | Write your own review about "IRAs, 401(k)s & Other Retirement Plans": Taking Your Money Out
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