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| IRAs, 401(k)s & Other Retirement Plans: Taking Your Money Out | 
 enlarge | Authors: Twila Slesnick, John C. Suttle, Amy Delpo
Publisher: Nolo Press
Category: Book
List Price: $34.99
Buy New: $0.74
You Save: $34.25 (98%)
Buy New/Used from $0.74
Avg. Customer Rating:  (15 reviews)
Sales Rank: 930244
Languages: English (Original Language), English (Unknown), English (Published)
Media: Paperback
Edition: 5th
Number Of Items: 1
Pages: 336
Shipping Weight (lbs): 1.1
Dimensions (in): 9 x 7 x 0.6
ISBN: 0873378644
Dewey Decimal Number: 343.7305233
EAN: 9780873378642
ASIN: 0873378644
Publication Date: December 2002
Availability: Usually ships in 1-2 business days
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| Editorial Reviews:
Book Description
If you are... *approaching retirement
*retiring early
*changing jobs
*looking to borrow money from your retirement plan
*wondering what to do with an inherited plan ...you need this book! IRAs, 401(k)s & Other Retirement Plans helps you make sense of the rules that govern distributions from retirement plans, and avoid the stiff penalties that lurk in the fine print. It covers the different types of retirement plans -- including 401(k)s and other profit-sharing plans, Keoghs, IRAs and tax-deferred annuities -- and the taxes and penalties that can deplete your nest egg. In accessible, plain English, IRAs covers: *the tax strategies before retirement
*the tax strategies at retirement
*dividing a plan at divorce
*tax penalties for taking your money out early
*methods for avoiding tax penalties
*distributions you must take during your lifetime
*distributions to your heirs after your death
*Roth IRAs With this book as your guide, you'll know the rules, avoid the penalties and save for your future like a pro.
Amazon.com
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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| Customer Reviews: Read 10 more reviews...
 IRA/401K February 9, 2008
This is a very good basic informational book that helps to clarify some of the rules of this type of investment. Recommend it to people who just want some basic knowlege.
 Great Book! February 16, 2007
0 out of 2 found this review helpful
Excellent reference on how to extract money from retirement plans. Gives specific requirements necessary to receive penalty free withdrawals. I highly recommend this easy to understand, plain english book.
Crucial Information July 20, 2006
5 out of 5 found this review helpful
This book contains must have information for anyone owning an IRA. I had a previous version and wanted to keep current as I approach the magic age. This book tells you how to avoid fines and penalties from the dastardly IRS. Keep as much of your hard earned savings as possible for as long as possible by reading this book several times then saving it for future reference. I also marked many pages for my beneficiaries just in case. Do yourself a favor and invest in this book.
Very User Friendly! August 29, 2005
4 out of 4 found this review helpful
The book is well organized. I was able to use it, immediately, to answer 'basic questions' to help a relative avoid a costly mistake and, more importantly, to learn 'options' that could help. Though I am an insurance agent, I've had little exposure to the 401(k), IRA, etc., market. This book is quickly moving me to the 'top 20% group' of informed agents and financial advisors. I highly recommend it, thanks to Ed Slott!
Pay attention to the sub-title May 5, 2005
61 out of 62 found this review helpful
The reviewer plugging the "MarketBuster" book has totally missed the point of this NOLO book, which is given in the subtitle: Taking Your Money Out. The reviewer is talking about strategies for growing your account.
When you're in the savings/growing mode you're in a whole different situation than you're in when you're having to withdraw and/or live off your account. Going from one to the other requires a major change in strategy and, more important, a MAJOR change in mindset and, often, life style.
You're confronted with a whole new set of regulations, whether the reason for the change is retirement, inheriting an account, etc. The biggest change in mindset is that instead of the pleasant pre-retirement situation of watching the money accumulate, you have to recognize that you're now going to be watching it DECLINE. And unless you've got a tremendously more than sufficient account, you're going to have to live with the knowledge that you could outlive the account, possibly due to your own mistakes, some of which this book can help you avoid.
Four years ago I was confronted with making this shift a whole lot sooner than I'd planned, and with getting control of my retirement accounts under conditions where I had little help. Without the previous edition of this NOLO book, I would have been totally lost and probably made serious mistakes.
Now, one caveat: This book does not tell you how to MANAGE your withdrawals and account so as to produce INCOME; as one should expect from NOLO press as a LEGAL advice publishing house, it deals with the nuts, bolts, traps and hazards of the PROCESS of getting the money out.
In my situation I also found that there is not a whole lot of good material out there on the subject of managing your money and account IN the WITHDRAWAL stage, and this subject is affecting more and more people, as the country shifts from defined benefit (pensions) plans to plans like 401Ks and IRAs that place the job of investing and managing on the individual.
It is a whole lot more complex, risky, and stressful than most people realize, especially considering the general abysmal education (lack of) even young people receive on the subject, let alone people my age who were raised to count on pensions, etc. (And thank goodness for Social Security, which while far from adequate, can still supply a firm base of about 30 to 50% of a retirement income; although that's another issue)
So I recommend this book as essential for the basic procedures, but you will also need additional information on how to manage your income account(s). Personally, in addition to a good fee based financial planner, I found invaluable help from folks who have actually been doing the job for years, especially in the forums of Morningstar, for example. But you have to be on constant alert for scamsters and the whole "how to be a billionaire" publishing crowd. You're going to have to invest some serious time and effort in educating yourself for a the whole new job of retirement, and this book is an excellent place to start, preferably BEFORE you actually have to start TAKING YOUR MONEY OUT.
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