IRAs, 401(k)s & Other Retirement Plans: Taking Your Money Out

by Twila Slesnick John C. Suttle, John C. Suttle

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 *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.

Genres: Nonfiction, Finance, Business

Paperback

First published October 1, 1998

Reviews

[Ryan Jankowski]

Overall, a good summary of retirement plans. However, after the SECURE Act, much of the information is no longer accurate (RMDs, non-spousal inherited IRAs, etc). There is currently proposed legislation that will effect even more changes, which might cause books on this subject to postpone updates until that is all resolved.

There is still some utility in reading the book, but it would be best once it is updated.

[Sherry]

This book is written in a most frustrating manner BUT it has some really good information about retirement accounts; planning; managing; required distributions; inheritance; taxes and penalties. I learned some information that is extremely helpful.

[Carley]

CPE credit for CPA license. The material is adapted from this widely recognized textbook publication originally distributed by Nolo Press.

So repetitive. But it was a good course to knock out 12hours of CPE.

[Ger]

june 2019 edition is already a bit outdated...such is the tax law. most of it still true but you can't be sure which parts.

[Fiona Baker]

Very educational.

[Marshall]

I like these NOLO books. They're no-nonsense, thorough, plain English books on legal, tax, and financial subjects, many of which had never before had an accessible book for laymen. They tend to go above and beyond the standard legal understandings, and uncover research of case law and IRS letter rulings. NOLO also has my respect because whenever they cover any subject related to retirement, they always clearly cover the case of early retirement, rather than just assume everyone will retire at the same age.

This book is no exception. There are many books on 401(k) and IRAs, but few that specifically cover so thoroughly the complex legal situations and exceptions of withdrawal from these plans. It becomes kind of a legal maze, but this book breaks it down simply in 200 pages. It covers pretty much every exception I could think of, but unfortunately doesn't cover any of them in much depth. That would take a much longer book, I'm sure. Of course, it could be made shorter, because this book is designed to be easily used as a reference, so it repeats a lot of parts it explained in earlier parts of the book.

[Matt Heavner]

Not as good as some of the other NOLO - this one felt quite repetitive. Still useful authoritative information, but less broadly relevant or informative than other NOLO books. Some of the other books felt like good textbooks (place to learn many aspects), this felt more like a reference dictionary - go look up what you need but not worth reading the whole book.

[Tom]

This was a good reference guide for the variety of retirement plans, as well as the rules associated with each. You can use it to plan for how best to position your assets in tax efficient accounts in advance of retirement.

[Karl]

Exceptionally clear guide to the tax stuff that will happen to you when you retire. Each chapter even tells you if you can skip it (and mostly you can) given your situation. Of course almost none of my friends needs this anytime soon, unless you're an obsessive planner/worrier like me.

[Jennie]

I only read part of this book but it was good!

[Galicius]

Worth every pennyl. It probably saves you the cost of a consultation with an accountant or CFP.
Skipped chapters that did not pertain to our situation.

[Paul Kim]

gets a bit repetitive but I guess that is what it should be for a reference book.

[Janet]

Not ready for this yet, and this is now outdated info.