Retire Secure! : Pay Taxes Later - The Key to Making Your Money Last

by Lange, James; King, Larry

• ISBN13: 9780470405314
• ISBN10: 0470405317
• Edition: 2nd
• Format: Hardcover
• Copyright: 2009-02-09
• Publisher: Wiley

Summary

A comprehensive and easy-to-understand guide to maximizing the benefits of IRAs and retirement assets. Retire Secure, Second Edition offers unbeatable recommendations for addressing the #1 fear facing most readers: Running Out of Money. Retire Secure, Second Edition also shows baby boomers nearing retirement how they can save tens of thousands to over one million dollars by paying taxes later. This practical guide delivers straight forward accumulation and distribution strategies for IRAs, Roth IRAs, the new Roth 401(k) and other retirement plans. More specifically, Lange gives readers tips on how to prepare for expected tax changes in 2010, details on converting to Roth IRAs, New Roth 401(k) and Roth 403(b) rules, and when IRA and retirement plan owners should consider second to die life insurance. Further, this book describes Lange's exceptional estate plan--a plan that has been featured in The Wall Street Journal and many other fine financial journals. This definitive guide enjoys glowing endorsements from Charles Schwab, Larry King, Ed Slott and 60 other financial authors and experts.

Author Biography

James Lange is an attorney and CPA with thirty years' specialized experience in IRA and retirement plan distribution strategies and estate planning. His recommendations have appeared in the Wall Street Journal thirty times, and he has been cited in the New York Times, Newsweek, Bottom Line, Financial Planning, and the Tax Adviser. Lange's Cascading Beneficiary Plan, with the flexibility and control it offers the surviving spouse, has become a benchmark in estate planning. Nationally recognized as a Roth IRA and Roth IRA conversion expert, Lange is a frequent speaker who trains financial advisors all over the country. he is the founder of The Roth IRA Institute. Lange is also the author of the first edition of Retire Secure!, also published by Wiley.

Table of Contents

Foreword

Acknowledgments

How to Read This Book

What Retire Secure! Doesn't Cover

Additional Resources for the Reader

A Note Specifi cally for Financial Professionals

The Big Retirement Question

A Summary of Tax Reduction Strategies

The Clear Advantage of IRA and Retirement Plan Savings during the Accumulation Stage

Spend Your After-Tax (Nonretirement or Non-IRA) Money First during the Distribution Stage

My Best Advice-Read Th is Book

An Outline Overview of the Whole Process

What's New!Consider Establishing a One-Person 401(k) Plan

Roth IRA Conversions Available to Everyone in 2010 The New Roth 401(k) and Roth 403(b)

All Non-Spouse Benefi ciaries of an IRA May Be Entitled to the "Stretch" Benefi ts of an Inherited IRA, 401(k), and 403(b)

Unexpected Roth IRA Conversion Opportunities for Non-Spouse Benefi ciaries of Inherited Retirement Plans

Direct Roth IRA Conversion from 401(k) and 403(b) Plans

Introduction by Ed Slott

The Accumulation Years: The Best Way to Save for Retirement

Fund Retirement Plans to the Maximum

Traditional IRAs versus Roth IRAs

Traditional 401(k)s and 403(b)s versus Roth 401(k)s and Roth 403(b)s

The Distribution Years: Spend the Right Funds First and Other Critical Decisions You Face in Retirement

Optimal Spending Strategies for Retirees

Minimum Required Distribution Rules

Should You Transfer Your 401(k) Account to an IRA at Retirement: Rollovers versus Trustee-to-Trustee Transfers and Other Strategies

Roth IRA Conversions

Annuitizing Your Financial Accumulations: Does It Make Sense for You?

Withdrawing Retirement Plans Funded with Company Stocks and Net Unrealized Appreciation

Estate Planning: It Is Never Too Early to Start

Eddie and Emily: A Retirement and Estate Planning Case Study

How to Reduce Your Federal Estate Tax Burden

The Most Certain and for Many the Best Way to Provide Financial Security for Your Children: Survivorship Life Insurance

Laying the Foundation for Estate Planning: Using the Minimum Required Distribution Rules after Death

Using Disclaimers in Estate Planning

The Ideal Benefi ciary Designation of Your Retirement Plan: Stretching and Disclaiming: Lange's Cascading Benefi ciary Plan

Changing Benefi ciaries for Retirement Plans and IRAs

Trusts as Benefi ciaries of Retirement Plans

How Donors Can Do Well by Doing Good

A Point-by-Point Summary of the Whole Process

Appendix: Life Expectancy Tables

About The Author

Index

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