Retire Secure!: A Guide To Getting The Most Out Of What You've Got, Third Edition

Retire Secure!: A Guide To Getting The Most Out Of What You've Got, Third Edition

James Lange

Language: English

Pages: 420

ISBN: 0990358836

Format: PDF / Kindle (mobi) / ePub

A comprehensive and easy-to-understand guide to maximizing the benefits of IRAs and retirement assets. Retire Secure! Third Edition offers unbeatable recommendations for addressing the #1 fear facing most readers: Running out of money. Retire Secure! Third 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, perfect for consumers, but detailed enough for financial experts, delivers straight forward accumulation and distribution strategies for IRAs, Roth IRAs, the new Roth 401(k) and other retirement plans. More specifically, Lange gives his readers tips on how to prepare for expected “death” of the stretch IRA, details on converting to Roth IRAs, 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.

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and/or retirement plan. After all, your future and your financial security are dependent upon you handling your retirement finances properly. After reading this book, please take action. Promise yourself that reading this book will be more than an academic exercise. Promise yourself that it will motivate you to take action—take the critical steps that will put you and your family in a much more financially secure position than you are in today. Make Those Nonmatched Contributions to Retirement

can be contributed to both IRAs combined, is $8,000. Please note “contribution amounts” and“deduction amounts” are two different things. If the working spouse is not covered under a retirement plan at work, the non-working spouse’s IRA contribution (maximum of $5,500 - $6,500 if over age 50 – in 2015) is fully deductible. If the working spouse is covered under a retirement plan at work, the nonworking spouse can still contribute the same amount, but the tax deduction may be limited, as shown in

agricultural analogy, a Roth IRA conversion requires you to pay tax on the seed. In this case, the seed is the amount of the traditional IRA that you want to convert to the Roth IRA. You plant the seed (invest in your new Roth IRA) and, over many years, it blossoms and grows. Then when you, or your heirs, harvest the crop (the original investment and all of the growth), the harvest is income-tax free. The advantages of the Roth conversion, when circumstances warrant one, should not be

have purchased a commercial, high commission annuity. A discussion of that type of annuity is beyond the scope of this chapter. In any event, sometimes they work out well, but sometimes retirees who have purchased a tax-deferred annuity don’t have a good plan for their eventual disposition. Tom Hall says, “That’s fine. Do a tax-free exchange of your tax-deferred annuity for this longevity annuity.” What a great idea! The reason this is such a good idea is a taxpayer can do a tax-free exchange

(ERISA) if they offer company stock to employees, and the value of the stock drops. Employers are also liable under insider-trading laws if they dump the stock in their pension plan to avoid a loss to their employees, knowing that the company is in trouble. Even prohibiting the employees from purchasing new stock could be a signal to other investors that it’s time to sell, thus driving the price down lower than it might otherwise go. Currently there are no restrictions on the amount of company

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