Description
Description
Save your nest egg from the IRS
About to retire? Over 723 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 covers:
- tax strategies before and after retirement
- required distributions and how much you need to take
- penalties for taking money out early and how to avoid them
- how to divide a plan at divorce
- what happens to your retirement plan after your death, and
different rules for taking money out of an inherited plan.
The 16th edition covers all of the latest changes, including:
- new start age for required distributions
- new contribution limits for 401(k)s, money purchase pension plans, ESOPs, SIMPLE IRAs, and Roth IRAs
- new exceptions to the 10% early distribution tax, and
- multiple new rules for inherited retirement plans.
Critical Reviews
Critical Reviews
"Depending on the size of the IRA and the age of the beneficiary, it might be smarter to pay the penalty than to liquidate the account simply to avoid the penalty," says Twila Slesnick, author of IRAs, 401(k)s & Other Retirement Plans. Kiplinger's Retirement Report
"A more impressively clear and comprehensive layman's guide is IRAs, 401(k)s & Other Retirement Plans..." U.S. News & World Report
"Few resources are as valuable when it comes to financial planning in later life." The Wall Street Journal
"This book belongs on the bookshelf of anyone with a retirement plan. Here's where you'll find the answers." Kiplinger's Personal Finance
"Uses everyday language to describe Internal Revenue Service rules for making withdrawals from retirement plans." The Wall Street Journal
Publishing Information
Publishing Information
Publisher:
NOLO
Pub date:
2023-07-04
Length:
416 pages
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