When you're ready to start setting aside (or withdrawing) money for your retirement-whenever that might be-401(k)s & IRAs For Dummies is here for you! It covers both types of retirement plans because they each have valuable tax benefits, and you may be able to contribute to both at the same time. With the practical advice in this book, you learn how to manage your accounts, minimize your investment risk, and maximize your returns. Sounds like a win-win, no matter your situation or where you're at in life.
Written by a well-known expert and 'father of the 401 (k)' , Ted Benna, 401(k)s & IRAs For Dummies helps you keep up with the ever-changing rules surrounding both retirement plans-including the rules from the SECURE and CARES Acts-and avoid the mistakes that can lead to higher taxes and penalties. Additional topics include:
Tax strategies before and after retirement
Required distributions and how much you need to take
Penalties for taking money out early and how to avoid them
What happens to your or your spouse's retirement plan after death or divorce
The rules for taking money out of an inherited plan
Methods for calculating required minimum distributions
Special tax benefits for conversions to Roth IRAs
How to recharacterize IRA or Roth contributions
Why IRA based plans are a better options for many small employers
Helping solo entrepreneurs and other small businesses pick the right type of plan
Whether you're just starting to think about a retirement plan, planning when to retire, or you're facing retirement, you'll find useful and practical guidance in 401(k)s & IRAs For Dummies. Get your copy today!