Book Title:

IRAs, 401(k)s & Other Retirment Plans: Taking Your Money Out (7th Edition) (Paperback)
by Twila Slesnick (Author), John C. Suttle (Author), Amy Delpo (Author)

Editorial Reviews:

Book Description

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!

It 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, this book covers:

  • tax strategies before retirement
  • tax strategies at retirement
  • dividing a plan at divorce
  • penalties for taking money out early
  • minimizing taxes
  • distributions you must take
  • distributions to your heirs

The 7th edition is completely updated with the latest tax rates, tables and methods for calculating required distributions. It also provides new information on Roth IRAs and bankruptcy.

With this book as your guide, you’ll know the rules, avoid the penalties and save for your future like a pro.

IRA’s, 401(k)s & Other Retirement Plans, by financial specialists Twila Slesnick and John C. Suttle, is a solid self-help legal look at a critical back-end issue that most of us blissfully ignore until we absolutely must confront it. The authors themselves admit it is not a compelling page-turner, but rather a comprehensive resource that at some point should prove indispensable to everyone with a retirement plan. They describe the various plans available-including Roth IRAs, to which an entire chapter is devoted-focusing on distribution rules, associated taxes, and potential penalties. They offer details on early distributions used to pay higher-education expenses or health-insurance premiums (which are not subject to taxes, under certain explicit conditions), distributions you must take during your lifetime (when they begin, how they’re computed, what happens if your beneficiary changes), and distributions made after an account holder dies (largely concentrating on administrative procedures that could help you avoid unnecessary financial loss). Helpful appendices include relevant IRS forms, notices, and schedules as well as life-expectancy tables.

About the Author

Twila Slesnick is an Enrolled Agent who specializes in tax and investment planning for retirees and prospective retirees. She has conducted numerous seminars throughout the U.S. in the areas of computer use, retirement planning and tax planning. She has also served as senior editor of a national computer magazine, developed computer software and designed mathematics curricula. She lives in Dublin, California. IRAs, 401(k)s Other Retirement Plans is her first book for Nolo.

John Suttle has been practicing law for 18 years. His practice consists of estate and trust planning; probate administration; federal, state and local tax counseling for high net worth individuals and retirement planning under ERISA. Co-author of IRAs, 401(k)s Other Retirement Plans, he has served as an expert witness in numerous cases and lives in Atherton, California.