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Truth About Protecting Your IRAs and 401(k)s, The
- By Steve Weisman
- Published Nov 26, 2008 by FT Press. Part of the Truth About series.
- Copyright 2009
- Dimensions: 5-7/16x8-1/2
- Pages: 208
- Edition: 1st
- Book
- ISBN-10: 0-13-233384-8
- ISBN-13: 978-0-13-233384-9
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Product Author Bios
Steve Weisman is Senior Lecturer at Bentley College in the department of Law, Tax, and Financial Planning. He has also taught courses on financial planning at the University of Massachusetts, Curry College, and Boston University. He is a host on the nationally syndicated radio show A Touch of Grey, heard on more than 50 stations, including NYC’s legendary WABC and KRLA Los Angeles. A member of the National Association of Elder Law Attorneys, Steve is legal editor and a columnist for Talkers Magazine and writes for publications ranging from The Boston Globe to US Air. His books include Boomer or Bust, The Truth About Avoiding Scams, and The Truth About Buying Annuities. Weisman has earned a Certificate of Merit for legal journalism from the American Bar Association.
All you need to know about every IRA, every 401(k)…even HSAs, and more!
· The truth about getting the most benefits at the lowest cost
· The truth about avoiding the pitfalls that can kill your retirement
· The truth about choosing the best strategies for you--and your kids
The Truth About Protecting Your IRAs and 401(k)s arms you with the up-to-the-minute knowledge you need to build your retirement income, as you reduce your costs, taxes, and risks! Consumer finance expert and nationally syndicated radio host Steve Weisman offers 48 quick, bite-size, just-the-facts information about every type of tax-advantaged retirement investments: self-directed, stretch, SIMPLE, SEP, Roth, and spousal IRAs, 401(k)s, and more. You'll find up-to-the-minute guidance on avoiding pitfalls that can cost you a fortune…choosing the right retirement strategies for both you and your heirs…planning retirement investments when you’re a married or unmarried couple…widening your 401(k) investment options…and much more. Like every book in The Truth About Series, this book distills all the essential knowledge you need on a topic...presents it clearly, simply, and quickly, with an “a-ha!” on every page...and shows exactly how to put it to work in your daily life. Easy to read, easy to use, it’s all you need to gain retirement security--and protect it for the rest of your life!
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7 of 7 people found the following review helpful
Solid book - but watch the price,
Amazon Verified Purchase(What's this?)
This review is from: The Truth About Protecting Your IRAs and 401(k)s (Kindle Edition)
I was able to get a copy of this while it was free.This is a solid study of retirement options. It has some excellent advice (consider contributing to the youngest spouse first, don't give up the company match, pay off credit card debt first), but it could use another editor run. There are a few times that information is quickly repeated, which seems unnecessary. Kudos to the author as he is pretty funny, though the New Kids on the Block reference is pretty dated now.
3 of 3 people found the following review helpful
Short, sweet, informative and USEFUL basic explanation of the IRA.,
Amazon Verified Purchase(What's this?)
This review is from: The Truth About Securing Your Retirement with IRAs: The Essential Truths in 20 Minutes (Kindle Edition)
This is a short (thank goodness, because really, who would want a long) read which simply and clearly (as much as can be possible) explains IRAs. By short I mean 457 Kindle locations and about 30 minutes to read through.The author even recognizes the difficulties inherent in making such a dry topic interesting and suggests listening to the Black Eyed Peas ('Let's Get it Started') as the soundtrack while reading. I've heard a lot worse advice! The author, of course, is explaining the rules in the context of tax laws circa 2009-2010. If you are checking into this title in much later years it would behoove you to ensure there have been no significant changes. And, regarding laws, I found this quote quite interesting: "tax laws are written by legislators to encourage and discourage particular activities". How true. The IRA is a way to encourage taxpayers (aka consumers) to save for their retirement, thus putting less of a drain on society presumably. I think... Read more |
Online Sample Chapters
The Truth About Protecting Your IRAs and 401(k)s: Let's Get it Started (IRA Style)
The Truth About Protecting Your IRAs and 401(k)s: The Magic Numbers 59 1/2 and 70 1/2
Sample Pages
Appendix
Appendix A: Summary Record of Traditional IRA(s) for 2007
Appendix B: Worksheets for Social Security Recipients Who Contribute to a Traditional IRA
Appendix C: Life Expectancy Tables
Table of Contents
Introduction vii
Truth 1 IRA 1
Truth 2 Let’s get it started (IRA style) 5
Truth 3 59 1/2 and 70 1/2 9
Truth 4 Earned income 13
Truth 5 IRA deductions 17
Truth 6 Distributions from IRAs 21
Truth 7 Minimum required distributions 25
Truth 8 Withdrawal pains 29
Truth 9 Spousal IRA 33
Truth 10 Trusts as IRA beneficiaries 37
Truth 11 Beneficiary designations 41
Truth 12 Customizing beneficiary designation forms 45
Truth 13 Self-directed IRAs 49
Truth 14 Stretch IRA 53
Truth 15 Disclaimers 57
Truth 16 Inheriting an IRA 61
Truth 17 Maximizing IRA benefits for a surviving spouse 65
Truth 18 Roth IRA for children 69
Truth 19 IRA conversions 73
Truth 20 SIMPLE IRA 77
Truth 21 SEP IRA 81
Truth 22 IRA effects on taxation of Social Security benefits 85
Truth 23 Excess contributions to a Roth IRA 89
Truth 24 401(k) 93
Truth 25 401(k) Fees 97
Truth 26 IRA and 401(k) investments 101 101
Truth 27 What to do if you don’t like your 401(k) choices 105
Truth 28 Vesting rules for 401(k)s 109
Truth 29 Borrowing from your 401(k) 113
Truth 30 Company stock in 401(k)s 117
Truth 31 IRAs, 401(k)s, and creditors 121
Truth 32 Automatic 401(k) enrollment 127
Truth 33 Roth 401(k)s 131
Truth 34 Traditional IRA, Roth IRA, 401(k), or Roth 401(k) 135
Truth 35 401(k) choices when you leave your job 139
Truth 36 401(k) transfers 143
Truth 37 Individual 401(k) 147
Truth 38 SIMPLE 401(k) 151
Truth 39 Increasing tax brackets 155
Truth 40 Suing plan administrators 159
Truth 41 Retirement savings contribution credit 163
Truth 42 Divorce and your IRA or 401(k) 167
Truth 43 Health savings accounts 171
Truth 44 Unmarried and same-sex couples 175
Truth 45 Steve’s rules, part 1 179
Truth 46 Steve’s rules, part 2 183
Truth 47 Definitions 187
Truth 48 IRS Publication 590: Worksheets and Tables 193
About the Author 195
Errata
Book
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