The Truth About Protecting Your IRAs and

In an effort to encourage us to save for our own retirement rather than be dependent upon the government and programs like Social Security, Congress has passed laws providing opportunities for us to save for our own retirement while also reducing our income tax burden - a definite win-win situation for us.Perhaps the most popular and most effective ways of saving for your retirement are through IRAs and 401(k)s. More than 3 ½ trillion dollars are invested in IRAs while 401(k)s hold investments worth another 3 trillion dollars. When it comes to planning for your retirement, IRAs and 401(k)s offer tremendous opportunities, but also pitfalls and traps for the unwary. As with any government created program, there is a veritable avalanche of rules that can be viewed by pessimists as being stifling complications that are filled with financial danger. However, to the optimist, these rules provide opportunities for you to adopt IRA and 401(k) strategies specifically tailored to yours and your family's needs, not just for now, but for the next generation.This book will provide you with the truth about all of the ins and outs, the regulations and the loopholes involved with IRAs and 401(k)s. It will help you identify both the pitfalls and the opportunities. It will help you help yourself toward a secure retirement.

Steve Weisman is Senior Lecturer at Bentley College in the department of Law, Tax, and Financial Planning. He has also taught courses on financial planning at the University of Massachusetts, Curry College, and Boston University. He is a host on the nationally syndicated radio show A Touch of Grey, heard on more than 50 stations, including NYC’s legendary WABC and KRLA Los Angeles. A member of the National Association of Elder Law Attorneys, Steve is legal editor and a columnist for Talkers Magazine and writes for publications ranging from The Boston Globe to US Air. His books include Boomer or Bust, The Truth About Avoiding Scams, and The Truth About Buying Annuities. Weisman has earned a Certificate of Merit for legal journalism from the American Bar Association.

Introduction	p. vii
IRA	p. 1
Let's get it started (IRA style)	p. 5
59 1/2 and 70 1/2	p. 9
Earned income	p. 13
IRA deductions	p. 17
Distributions from IRAs	p. 21
Minimum required distributions	p. 25
Withdrawal pains	p. 29
Spousal IRA	p. 33
Trusts as IRA beneficiaries	p. 37
Beneficiary designations	p. 41
Customizing beneficiary designation forms	p. 45
Self-directed IRAs	p. 49
Stretch IRA	p. 53
Disclaimers	p. 57
Inheriting an IRA	p. 61
Maximizing IRA benefits for a surviving spouse	p. 65
Roth IRA for children	p. 69
IRA conversions	p. 73
SIMPLE IRA	p. 77
SEP IRA	p. 81
IRA effects on taxation of Social Security benefits	p. 85
Excess contributions to a Roth IRA	p. 89
401(k)	p. 93
401(k) fees	p. 97
IRA and 401(k) investments 101	p. 101
What to do if you don't like your 401(k) choices	p. 105
Vesting rules for 401(k)s	p. 109
Borrowing from your 401(k)	p. 113
Company stock in 401(k)s	p. 117
IRAs, 401(k)s, and creditors	p. 121
Automatic 401(k) enrollment	p. 127
Roth 401(k)s	p. 131
Traditional IRA, Roth IRA, 401(k), or Roth 401(k)	p. 135
401(k) choices when you leave your job	p. 139
401(k) transfers	p. 143
Individual 401(k)	p. 147
SIMPLE 401(k)	p. 151
Increasing tax brackets	p. 155
Suing plan administrators	p. 159
Retirement savings contribution credit	p. 163
Divorce and your IRA or 401(k)	p. 167
Health savings accounts	p. 171
Unmarried and same-sex couples	p. 175
Steve's rules, part 1	p. 179
Steve's rules, part 2	p. 183
Definitions	p. 187
IRS Publication 590: Worksheets and Tables	p. 193
About the Author	p. 195
Table of Contents provided by Ingram. All Rights Reserved.

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The Truth About Protecting Your IRAs and 401(k)s

Summary

Author Biography

Table of Contents

Supplemental Materials