To coincide with his new public television special, airing on PBS stations starting in March 2009, Ed Slott’s proven plan for generating enough personal wealth to last you the rest of your life
Given the challenging economic times, we will all welcome Ed Slott’s concrete advice for generating enormous wealth. In this must-have book you’ll learn how to:
• Retire with more money than you ever could have imagined and still take care of your loved ones • Move your money from FOREVER taxed to NEVER taxed • Make your IRA and 401(k) safer during rocky periods • Pick the best financial advisor and learn what pitfalls to avoid • Think and plan like a multimillionaire • Make Uncle Sam work for you
Based on Slott’s fundamental principles of building, protecting, and preserving wealth for you and your loved ones, Stay Rich for Life is filled with real life stories.
ED SLOTT is a nationally recognized IRA distribution expert who regularly delivers seminars around the country. He has been quoted in numerous financial publications. In 2008, his work was the feature of a #1 rated public television special that aired on PBS stations across the country. Slott lives on Long Island, New York.
Product Details
Hardcover: 256 pages
Publisher: Ballantine Books; First Edition edition (February 24, 2009)
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
This review is from: Stay Rich for Life!: Growing & Protecting Your Money in Turbulent Times (Hardcover)
Slott asserts that Americans not only need to accumulate a nest-egg while working, but take good care of it after retirement so it will last through their retirement.
High taxes and huge medical expenses (prior to qualifying for Medicare, nursing-home care at any age) stand as challenges to those wanting to preserve their retirement. Exploding deficits caused by multi-billion-dollar bailouts, skyrocketing health care and entitlement costs, failing pension plans will push government to sharply increase taxes. Slott notes that today's top tax rate (35%) is far lower than it bas been for most of the years income taxes have been levied - most years it was at least 70% or higher.
Retirement funds will be a tempting target - there was $17.4 trillion in them mid-year 2007, almost 40% of all household financial assets.
Slott then goes on to advice on picking an accountant and attorney (I'd rather see basic advice allowing one to avoid their high fees), and the details of "the first half of the game" (saving and investment strategies - especially Roth IRAs), and then the "second half" (withdrawal strategies, estate-planning basics).
When Slott talked of strategies for turbulent times I was hoping he had macro-level strategies dealing with the current deflation we are in, followed by subsequent inflation. Examples might be buying a home(s) at auction (which cities, price range, areas), or which areas of the stock market are most likely to revive in the next few years. Lacking those, the book focuses at too low a level to be of much use.
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Mostly easy to understand for the non-CPA. It is a rapid read and gives useful tips and scenarios for distributing savings built up in a retirement savings account with tax efficiency. The author points out pitfalls to avoid, especially in designating IRA beneficiaries. Am also reading a related book by Mr. Slott, "The Retirement Savings Time Bomb. and How to defuse it."
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This review is from: Stay Rich for Life!: Growing & Protecting Your Money in Turbulent Times (Hardcover)
Ed Slott's book offers concrete advice on how to plan for the future and keep the federal government out of your pocket. This is not a book to be read passively. To get any good out of it, you have to follow up with action on your part.
I highly recommend it. I intend to keep it nearby for future reference.
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