Parlay Your IRA into a Family Fortune [Hardcover]

Ed Slott (Author)

Book Description

Publication Date: December 29, 2004

Ed Slott’s book The Retirement Savings Time Bomb . . . and How to Defuse It taught Americans how to protect their hard-earned cash from the IRS’s coffers. Now, “America’s IRA expert” (Mutual Funds Magazine) returns with a bulletproof plan for ensuring your IRA’s continued longevity, tax-favored, for generations.

In Parlay Your IRA, Ed Slott shows you how to make the most out of your retirement plan. Slott's three-step strategy cuts through the tax laws and provides simple, easy-to-follow instructions for managing your IRA and other retirement income. Learn what you can do to parlay it into a fortune during your lifetime, and what you must do now to ensure that your beneficiaries will have all the options available to capitalize on the opportunity you've created for them to keep your money growing.

Packed with strategies, tips, answers to frequently asked questions Parlay Your IRA into a Family Fortune offers real solutions to making the most of your retirement money.

Learn how to:
* Achieve unlimited tax-free income when you retire.
* Pass more assets on to loved ones and other beneficiaries
* Keep retirement assets in the family for decades, even generations, and pay minimal or no taxes
*Protect your retirement account from creditors, divorce, bankruptcy, lawsuits, or other problems that could expose it to loss
*Use a Roth IRA to build a tax-free fortune
* And much, much more

Editorial Reviews

About the Author

Ed Slott is a highly sought-after professional speaker, CPA, and tax adviser who has been called “the best source for IRA advice” by the Wall Street Journal. His clients include major corporations, and he frequently appears in national publications such as The Wall Street Journal and The New York Times as well as on national television and radio.

Product Details

• Hardcover: 320 pages
• Publisher: Viking Adult (December 29, 2004)
• Language: English
• ISBN-10: 0670033960
• ISBN-13: 978-0670033966
• Product Dimensions: 8.9 x 6.3 x 1.1 inches
• Shipping Weight: 1.1 pounds
• Average Customer Review: 4.2 out of 5 stars  See all reviews (9 customer reviews)
• Amazon Best Sellers Rank: #855,265 in Books (See Top 100 in Books)

More About the Author

Ed Slott was named "The Best" source for IRA advice by The Wall Street Journal and called "America's IRA Expert" by Mutual Funds Magazine. Ed is a widely recognized professional speaker and educator specializing in retirement distribution planning, teaching both financial advisors and consumers how to best take advantage of our complicated tax code.

Ed has created the nationally aired Public Television specials, including the all-new "Ed Slott's Retirement Rescue!", "Lower Your Taxes! Now and Forever", "Stay Rich for Life!" and "Stay Rich Forever & Ever with Ed Slott", which have been viewed by millions across America.

He also established the IRA Leadership Program and Ed Slott's Elite IRA Advisor Group, which were developed specifically to help financial institutions and advisors, financial advisor firms and insurance companies become recognized leaders in the IRA marketplace.

Ed is the author of The Retirement Savings Time Bomb and How to Defuse it (Penguin, 2012), Ed Slott's Retirement Decisions Guide: 2011 Edition (Ed Slott, 2010), Stay Rich for Life! (Ballantine Books, 2009), Parlay Your IRA Into a Family Fortune (Penguin, 2008), Your Complete Retirement Planning Road Map (Ballantine Books, 2007), and Ed Slott's IRA Advisor, a monthly IRA newsletter. He also writes personal finance columns for numerous financial publications and co-authored an extensive special report with Harry Dent titled, Taxing Away Your Wealth.

Ed has been quoted in The New York Times, Newsday, The Wall Street Journal, The Washington Post, The Los Angeles Times, The Boston Globe, Time, Newsweek, Fortune Magazine, Forbes Magazine, Money Magazine, Kiplinger's Personal Finance Magazine, USA Today, Bloomberg Personal, Investor's Business Daily, Smart Money and a host of additional national magazines and financial publications. He has appeared on NBC, ABC, CBS, CNBC, CNN, FOX, PBS, National Public Radio, and Bloomberg TV and radio.

You can learn more at: www.IRAhelp.com
Read informative articles at: www.theslottreport.com

Customer Reviews

Most Helpful Customer Reviews

88 of 89 people found the following review helpful:

5.0 out of 5 stars Excellent strategic planning, March 12, 2005

By 

Joyce Banks (Omaha, NE) - See all my reviews

This review is from: Parlay Your IRA into a Family Fortune (Hardcover)

Ed Slott has produced a gem of a book. His message is targeted to those of us who don't plan to use up our entire IRA savings account during our own lifetimes, but plan to leave some of those savings for our heirs. If you can make that money grow by investing wisely, Slott shows you the secret of making that money last (he calls it `stretching') for the lifetime of your beneficiary (and even longer). It really is possible to convert your IRA into a family fortune.

There are three important steps to take. The first is converting to a Roth IRA. The next is to carefully choose the correct beneficiary. It must be one person. More than one beneficiary is OK, but it's crucial to set up a new IRA account for each. Be certain that your beneficiaries understand the steps necessary to stretch their IRAs to last the lifetime of their heirs.

The third step involves hiring an IRA advisor. The laws are tricky and things must be done just right. Fortunately, Slott provides directions on just how to get started. Although I was reluctant to take this step, he points out the importance of hiring an IRA advisor and how to go about finding one who is competent. It's too important to trust just anyone.

By carefully reading this book and following the instructions, you can arrange for your savings to continue to compound - tax deferred - for years.

If I found one fault with the book, it's that it lacks advice on just how to get the money in your IRA account to grow at a satisfactory rate. These are not the 1990's and one cannot simply park money in the stock market and watch it increase in value daily. Fortunately, I recently came across another new book that fills the gap. CREATE YOUR OWN HEDGE FUND describes a method of investing that taught me how to hedge (reduce the risk of owning) a portfolio of index funds (ETFs). The book is a tutorial on how and why this method is suitable for most investors.

I recommend both books as a way to build your IRA account and make it last for generations.

19 of 20 people found the following review helpful:

4.0 out of 5 stars Excellent information on Trust and IRAs, November 25, 2005

By 

Vivek Thoppay "Financial Advisor" (San Jose, CA United States) - See all my reviews
(REAL NAME)   

This review is from: Parlay Your IRA into a Family Fortune (Hardcover)

Ed does a great job on giving you detailed information of how to stretch your IRA assets for the next generation. He also does a great job of including information on how to write your trust so that you can control your assets beyond the grave. This is mainly important for clients who have lots of assets in their IRAs or for people who just pass away before they use their IRA assets. Since you don't know when you are going to pass away, I think it is important to get your trust and your IRA beneficiaries set up as soon as possible.

One downside of this book is that Ed seems to sell more of his stuff - his newsletter and his training. If you read his books, I think you have most of the information you need unless you run into very complicated situations. If that happens, then I would suggest getting a good financial advisor, CPA, and an estate planning lawyer to assist you.

13 of 14 people found the following review helpful:

2.0 out of 5 stars Little added, September 3, 2005

By 

R Son of Andres "type A" - See all my reviews

This review is from: Parlay Your IRA into a Family Fortune (Hardcover)

Ed Slott repeated alot of what was included in "The Retirement Savings Time Bomb...", so I was not as impressed with this book. You can get 98% of what to do in the "Time Bomb". But if you really want to save all your money to your kids and their kids, it should help you.