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The Retirement Savings Time Bomb . . . and How to Defuse It: A Five-Step Action Plan for Protecting Your IRAs, 401(k)s, and Other Retirement Plans from Near Annihilation by the Taxman Paperback – January 3, 2012
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"Ed Slott cuts through the complexities and makes it possible to navigate the maze of retirement plans in such a way that you can find solutions to fit your own financial needs."
From the Author
More About the Author
Ed established the IRA Leadership Program and Ed Slott's Elite IRA Advisor Group, which were developed specifically to help financial institutions and advisors become recognized leaders in the IRA marketplace.
He hosts the popular websites, http://www.irahelp.com and http://www.theslottreport.com, and regularly presents continuing professional-education seminars on IRA distribution planning for financial advisor firms, mutual fund companies, brokerage firms, insurance professionals, financial planners, banks, CPAs, and attorneys all across the country. His diverse client list includes Fidelity Investments, Nationwide Financial, New York Life, Jackson National, Transamerica, Met Life, Northwestern Mutual, Sammons Securities Company, Genworth Financial, Brokers International as well as a host of other major financial companies.
Ed is the author of the best-selling books, Ed Slott's 2014 Retirement Decisions Guide (IRA Help, LLC 2014), Fund Your Future: A Tax-Smart Savings Plan in Your 20s and 30s (IRA Help, LLC 2012) The Retirement Savings Time Bomb and How to Defuse It (Penguin, 2012), Stay Rich for Life! (Ballantine Books, 2009), Parlay Your IRA into a Family Fortune (Penguin, 2008) and Your Complete Retirement Planning Road Map (Ballantine Books, 2007). He is also a personal finance columnist for numerous financial publications and websites.
Ed has been quoted in The New York Times, Newsday, The Wall Street Journal, The Washington Post, Money Magazine, and Forbes. He has appeared on NBC, ABC, CBS, CNBC, CNN, FOX, PBS, Public Television, NPR, and Bloomberg TV and radio.
You can learn more at: www.IRAhelp.com
Read informative articles at: www.theslottreport.com
Top Customer Reviews
Pros: Some people may find the loose animated style of prose easier to understand and follow than traditional prose styles/books. Best suited to those usually not comfortable reading books.
Cons: The books is written as if transcribed from a brief lecture the author has given and comes across more like a QVS pitch than a guide to retirement saving. As a result there is a lot of motivational talk and sales pitch you have to wade through to get to the actual content of the book. Unfortunately, when you get there, the content if pretty thin with many details either left out completely (more often) or strew somewhere in the book (less often). Hard to recommend this book with so many decent books on the subject out there. Especially since this is a topic where the details do matter and a book that glosses over or ignores them is likely to steer you in the wrong direction.
What's not in this book is information on leaving your IRA to a charity, which it turns out is also an effective way to avoid having your IRA taxed. The book actually states that you should not leave your IRA to a charity, but then it never says why. Later in the book, it says you should not mix types of beneficiaries (designated versus non-designated), but again, doesn't explain that if a non-designated beneficiary is a charity, the IRA will not be taxed.
I asked a tax expert at my Alma Mater, who sent me an article discussing leaving an IRA to a charity. Here is the key except from that article:
"For IRA owners having both family and charitable interests in their estate plans, it is far more tax-efficient to leave pre-tax IRA assets to a charity and other, after-tax asset to family, given that the charity pays no income tax and the latter generally is income-tax-free to heirs." (55 PLUS, November/December 2011, Jim Terwilliger, CFP.)
Most Recent Customer Reviews
Ed does a good job of leading you around the do's, the don'ts, and the can do's of IRA's and other retirement accounts 401(k)'s, 403(b)'s, and 457's. Read morePublished 1 month ago by Daniel D. Slosberg
No real big way around taxes but this books gets one thinking about options for age 65-94. That's how long the actuarial table sites my life span!Published 1 month ago by Amazon Customer
I think this book is well written, interesting and informative. I have been a lawyer for thirty-five years and I wasn't aware of most of the potential problems described in this... Read morePublished 6 months ago by Bob
Lots of helpful things. I thought I am well aware of all the rules but this book was eye opening. Thank u!Published 6 months ago by mirka