Your Complete Retirement Planning Road Map: A Comprehensive Action Plan for Securing IRAs, 401(k)s, and Other Retirement Plans for Yourself and Your Family
Corporate pensions are disappearing. Social Security is in trouble. And the sizable postwar generation is reaching retirement age. With the futures of millions of Americans at stake, Ed Slott, the country’s foremost retirement planning adviser, now offers expert advice on weathering the perfect storm of financial instability that looms on the horizon. Your Complete Retirement Planning Road Map provides clear step-by-step directions through the highways and byways of IRAs, 401(k)s, 403(b)s,...
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Corporate pensions are disappearing. Social Security is in trouble. And the sizable postwar generation is reaching retirement age. With the futures of millions of Americans at stake, Ed Slott, the country’s foremost retirement planning adviser, now offers expert advice on weathering the perfect storm of financial instability that looms on the horizon. Your Complete Retirement Planning Road Map provides clear step-by-step directions through the highways and byways of IRAs, 401(k)s, 403(b)s, and other major accounts.In five focused sections, Slott combines crucial facts with checklists and questionnaires to teach investors and beneficiaries alike the best way to save and to maximize an inheritance. Inside you’ll discover• an overview of every retirement savings account you own–from what it is and where it is to who gets it and how, plus where to put important data• how to properly fill out retirement account beneficiary forms so that money goes to whomever you choose and not to relatives who pop up out of nowhere• what to do when you inherit so that you won’t lose any tax benefits or make a mistake that could wipe out an inherited fortune that took years to build up• how to handle out-of-the-box issues such as divorce or incapacity; tax issues for unmarried partners; decisions about trusts• how to determine whether your professional retirement adviser is really up to the task of preserving and protecting your money• the most up-to-date information on tax laws, including the Pension Protection Act, which provides major new retirement incentives that you can take advantageofYour Complete Retirement Planning Road Map is an indispensable planning solution that is sure to become the standard how-to on a complex subject that is becoming relevant to more people every day.“IRA savant Ed Slott [helps] you make the most of your retirement earnings or inherited account.”–USA Today“Ed Slott knows more about the care and feeding of IRAs than anybody else.”–Newsday
Author's Note ixIntroduction: The Long, Happy Life of Your Retirement Savings xiiiMy Account Inventory 1General Information-Each Owned Account 8General Information-Each Inherited Account 10Summary Information-All Owned/Inherited Accounts 13The Account Owner's Care Solution 15My Beneficiary Form Checklist 19My Custodial Agreement Checklist 29My Stretch Opportunity Checklist 37My Retirement Assets and Estate Plan Checklist 45My RMD Calculations Checklist 55My Rollover/Lump-Sum Decision Checklist 65The Account Beneficiary's Care Solution 79The Nonspouse Beneficiary's (an Individual) Checklist 83The Spouse Beneficiary's Checklist 95The Multiple Beneficiaries' Checklist 107The Successor Beneficiary's Checklist 117The Tax Breaks for Beneficiaries Checklist 127The IRD Checklist 137The Special Issues Care Solution 149The Naming a Charity-As-Beneficiary Checklist 153The Naming a Trust-As-Beneficiary Checklist 165The Disclaimer Planning Checklist 179The Divorce Checklist 193The Early-Distribution Exceptions-72(t) Payments Checklist 203The Early-Distribution-Other Exceptions Checklist 215The Tax Breaks for Lump-Sum Distribution Checklist 227The Incapacity Checklist 243The Same Sex and Unmarried Couple Checklist 253The Alternative Investments and Prohibited Transactions Checklist 261The Roth IRA Conversion Checklist 275The Follow-Up Care Solution 291My Year-end Checklist 295My Advisor Checkup Tool 303Single Life Expectancy Table 309Uniform Life Expectancy Table 311Joint Life Expectancy Table 313Retirement Planning Resources for Consumers and Financial Advisors 333Index 337Acknowledgments 349
