Hey, let me be the first to say that Nolo publishing puts out great books that help sort out the world of legal mumbo-jumbo. I own three of their books and am very happy. So, now I am happy to find out that they offer this comprehensive guide on retirement plans which I am very interested in. The problem is that they give you the whys and whats but not the hows. Enter the 401(k) MarketBuster strategy. This strategy has given me a tested, successful method of maximizing my investment returns with a very simple strategy. If you are looking for the whys and whats like I usually like to do, get Slesnick and Suttle’s book. If you want a quick primer on how to grow your retirement money faster than everyone else, then pick up the 401k MarketBuster. If you are like me and want to know everything I need to know about what is happening with and how to grow my hard-earned dollars, get both!
Score: 4 / 5
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.
Score: 5 / 5
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.
Score: 3 / 5
“IRAs, 401(k)s & Other Retirement Plans: Taking Your Money Out” is a guide to minimizing taxes and penalties on your qualified retirement funds from the folks at Nolo, who strive to make the law accessible to the layman. Note that this book is about TAKING MONEY OUT of your retirement savings, not putting money in. It answers common questions, often in considerable detail, about your options and requirements for regular distributions, early distributions before age 59 1/2, and mandatory distributions after age 70 1/2 for 401(a) plans (stock bonus, money purchase pensions, defined benefit plans, Keoghs), 401(k)s, 403(a)s, 403(b)s, IRAs, and Roth IRAs and 401(k)s.
“An Overview of Tax Rules” addresses normal withdrawal of your money for ages 59 1/2-70 1/2. It tells you what is taxed, when, what your options are for distributions and which are more advantageous, options if you receive the plan as part of a divorce settlement, mandatory withholding, and options for inherited plans, which are also discussed in more detail later. Subsequent chapters discuss early distributions (taxes, how to calculate, exceptions), with a chapter dedicated solely to calculating substantially equal periodic payments; required distributions (rules, penalties, calculating how much you need to withdraw, setting up beneficiaries); distributions to inheritors; and chapters dedicated to Roth IRAs (rollovers, conversions, taxes) and Roth 401(k)s.
Each chapter begins with a note about who needs to read the chapter, so you don’t have to read the whole book to find the information you want, and ends with a list of the tax code sections for the topic under discussion. For each withdrawal scenario, the authors explain the complex set of rules and how to minimize your taxes and penalties in as plain English as possible. Truthfully, the tax code is so arcane and the options so numerous that I don’t know how most retirees manage. For each distribution option or scenario, at least one example is given, so you can see how it works. The appendices contain examples of IRS forms, notices, and schedules, Life Expectancy Tables, and Uniform Lifetime Table, which you may need to make some calculations.
With a family member retiring soon on whose plans I am the beneficiary, I was interested in understanding the rules for normal, mandatory, and inherited distribution of every kind of plan except Roths. There are enough options and pitfalls to make my head spin, but generally you will want to make a beeline for the ones that apply to you. Sections within the chapters are clearly titled to help you do that. I am still fuzzy on a couple of points that probably don’t apply to me anyway, but “Taking Your Money Out” is very informative. I discovered options for early distribution that I wish my relative had known about sooner, so you may not want to wait until you retire to pick up this book. It’s essential to know what kind of plan you have, so be sure to confirm that if it’s not obvious.
Score: 5 / 5
One of the best things I liked about this book was the small section before the chapter starts that tells you if you should even start to read the chapter and a sentence or 2 on what it is about.
This book is very thorough and it will definitely take a while to read through even if you have quick questions. Most of the book concerns how to plan which IRA is the best for you and the benefits or lack of with each. There are a lot of tricky rules, about withdrawals, early withdrawals, taxes and/or penalties on different IRAs that are worth considering and understanding before investing.
This was very sobering look into the future and well worth the time and effort to plod through. There is a fair amount of math involved as it helps you calculate how much you will need to invest to live the style you would like. (The appendix at the end is filled with tax forms- yuck!) And frankly if you are not mathematically minded you may just want to give up even though they do give several examples.
In summary, I think this book does give you everything you need to know. For myself it helped me get an idea of what I wanted to do without feeling like a complete dummy. But a lot of the book involves more complicated stuff (taxes etc.) which are not so straightforward although the book tries to make it easier. If you are analytical or good mathematically I believe this will be great, probably a breeze but if you are challenged (like me) you might want to read it for the general info and then see a specialist to help you plan further.
Hey, let me be the first to say that Nolo publishing puts out great books that help sort out the world of legal mumbo-jumbo. I own three of their books and am very happy. So, now I am happy to find out that they offer this comprehensive guide on retirement plans which I am very interested in. The problem is that they give you the whys and whats but not the hows. Enter the 401(k) MarketBuster strategy. This strategy has given me a tested, successful method of maximizing my investment returns with a very simple strategy. If you are looking for the whys and whats like I usually like to do, get Slesnick and Suttle’s book. If you want a quick primer on how to grow your retirement money faster than everyone else, then pick up the 401k MarketBuster. If you are like me and want to know everything I need to know about what is happening with and how to grow my hard-earned dollars, get both!
Score: 4 / 5
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.
Score: 5 / 5
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.
Score: 3 / 5
“IRAs, 401(k)s & Other Retirement Plans: Taking Your Money Out” is a guide to minimizing taxes and penalties on your qualified retirement funds from the folks at Nolo, who strive to make the law accessible to the layman. Note that this book is about TAKING MONEY OUT of your retirement savings, not putting money in. It answers common questions, often in considerable detail, about your options and requirements for regular distributions, early distributions before age 59 1/2, and mandatory distributions after age 70 1/2 for 401(a) plans (stock bonus, money purchase pensions, defined benefit plans, Keoghs), 401(k)s, 403(a)s, 403(b)s, IRAs, and Roth IRAs and 401(k)s.
“An Overview of Tax Rules” addresses normal withdrawal of your money for ages 59 1/2-70 1/2. It tells you what is taxed, when, what your options are for distributions and which are more advantageous, options if you receive the plan as part of a divorce settlement, mandatory withholding, and options for inherited plans, which are also discussed in more detail later. Subsequent chapters discuss early distributions (taxes, how to calculate, exceptions), with a chapter dedicated solely to calculating substantially equal periodic payments; required distributions (rules, penalties, calculating how much you need to withdraw, setting up beneficiaries); distributions to inheritors; and chapters dedicated to Roth IRAs (rollovers, conversions, taxes) and Roth 401(k)s.
Each chapter begins with a note about who needs to read the chapter, so you don’t have to read the whole book to find the information you want, and ends with a list of the tax code sections for the topic under discussion. For each withdrawal scenario, the authors explain the complex set of rules and how to minimize your taxes and penalties in as plain English as possible. Truthfully, the tax code is so arcane and the options so numerous that I don’t know how most retirees manage. For each distribution option or scenario, at least one example is given, so you can see how it works. The appendices contain examples of IRS forms, notices, and schedules, Life Expectancy Tables, and Uniform Lifetime Table, which you may need to make some calculations.
With a family member retiring soon on whose plans I am the beneficiary, I was interested in understanding the rules for normal, mandatory, and inherited distribution of every kind of plan except Roths. There are enough options and pitfalls to make my head spin, but generally you will want to make a beeline for the ones that apply to you. Sections within the chapters are clearly titled to help you do that. I am still fuzzy on a couple of points that probably don’t apply to me anyway, but “Taking Your Money Out” is very informative. I discovered options for early distribution that I wish my relative had known about sooner, so you may not want to wait until you retire to pick up this book. It’s essential to know what kind of plan you have, so be sure to confirm that if it’s not obvious.
Score: 5 / 5
One of the best things I liked about this book was the small section before the chapter starts that tells you if you should even start to read the chapter and a sentence or 2 on what it is about.
This book is very thorough and it will definitely take a while to read through even if you have quick questions. Most of the book concerns how to plan which IRA is the best for you and the benefits or lack of with each. There are a lot of tricky rules, about withdrawals, early withdrawals, taxes and/or penalties on different IRAs that are worth considering and understanding before investing.
This was very sobering look into the future and well worth the time and effort to plod through. There is a fair amount of math involved as it helps you calculate how much you will need to invest to live the style you would like. (The appendix at the end is filled with tax forms- yuck!) And frankly if you are not mathematically minded you may just want to give up even though they do give several examples.
In summary, I think this book does give you everything you need to know. For myself it helped me get an idea of what I wanted to do without feeling like a complete dummy. But a lot of the book involves more complicated stuff (taxes etc.) which are not so straightforward although the book tries to make it easier. If you are analytical or good mathematically I believe this will be great, probably a breeze but if you are challenged (like me) you might want to read it for the general info and then see a specialist to help you plan further.
Score: 4 / 5