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AARP Retire Secure!: Pay Taxes Later--The Key to Making Your Money Last, 2nd Edition

AARP Retire Secure!: Pay Taxes Later--The Key to Making Your Money Last, 2nd Edition

James Lange

ISBN: 978-1-118-24138-7

Dec 2011

336 pages

Select type: E-Book


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AARP Digital Editions offer you practical tips, proven solutions, and expert guidance.

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.

Foreword by Larry King xxi

Acknowledgments xxiii

How to Read This Book xxv

The Big Retirement Question xxix

A Summary of Tax Reduction Strategies xxxi

What's New! xxxvii

Introduction by Ed Slott xliii

Part One The Accumulation Years: The Best Way to Save for Retirement 1

1. Fund Retirement Plans to the Maximum 3

2. Traditional IRAs versus Roth IRAs 31

3. Traditional 401(k)s and 403(b)s versus Roth 401(k)s and Roth 403(b)s 49

Part Two The Distribution Years: Spend the Right Funds First and Other Critical Decisions You Face in Retirement 71

4. Optimal Spending Strategies for Retirees 73

5. Minimum Required Distribution Rules 85

6. Should You Transfer Your 401(k) Account to an IRA at Retirement?: Rollovers versus Trustee-to-Trustee Transfers and Other Strategies 95

7. Roth IRA Conversions 123

8. Annuitizing Your Financial Accumulations: Does It Make Sense for You? 139

9. Withdrawing Retirement Plans Funded with Company Stocks and Net Unrealized Appreciation 161

Part Three Estate Planning: It Is Never Too Early to Start 167

10. Eddie and Emily: A Retirement and Estate Planning Case Study 171

11. How to Reduce Your Federal Estate Tax Burden 181

12. The Most Certain and for Many the Best Way to Provide Financial Security for Your Children: Survivorship Life Insurance 203

13. Laying the Foundation for Estate Planning: Using the Minimum Required Distribution Rules after Death 225

14. Using Disclaimers in Estate Planning 235

15. The Ideal Benefi ciary Designation of Your Retirement Plan: Stretching and Disclaiming: Lange’s Cascading Benefi ciary Plan 249

16. Changing Benefi ciaries for Retirement Plans and IRAs 265

17. Trusts as Benefi ciaries of Retirement Plans 275

18. How Donors Can Do Well by Doing Good 287

19. A Point-by-Point Summary of the Whole Process 301

Thank you, Readers 305

Appendix: Life Expectancy Tables 309

About the Author 311

Index 313