Retire Secure!: A Guide To Getting The Most Out Of What You've Got, Third Edition
A comprehensive and easy-to-understand guide to maximizing the benefits of IRAs and retirement assets. Retire Secure! Third Edition offers unbeatable recommendations for addressing the #1 fear facing most readers: Running out of money. Retire Secure! Third Edition also shows baby boomers nearing retirement how they can save tens of thousands to over one million dollars by paying taxes later.
This practical guide, perfect for consumers, but detailed enough for financial experts, delivers straight forward accumulation and distribution strategies for IRAs, Roth IRAs, the new Roth 401(k) and other retirement plans. More specifically, Lange gives his readers tips on how to prepare for expected “death” of the stretch IRA, details on converting to Roth IRAs, Roth 401(k) and Roth 403(b) rules, and when IRA and retirement plan owners should consider second-to-die life insurance.
Further, this book describes Lange's exceptional estate plan--a plan that has been featured in The Wall Street Journal and many other fine financial journals. This definitive guide enjoys glowing endorsements from Charles Schwab, Larry King, Ed Slott and 60 other financial authors and experts.
retirement, retirement planning, retirement planning books, retirement planning guide, retirement planning kindle, retirement books, retirement income, trusts, retirement age, estate planning, social security, maximum social security benefit, social security strategy, estate planning documents, social security spousal benefits, estate planning basics, financial calculator, financial planning, assets under management, Roth IRA, Roth IRA Conversions, IRA, 401k, 403b, money, investing, investments, finances, tax planning, taxes, money managment, personal finance
reminders and sign up for the next workshop. Jim lives in Pittsburgh, in the home he grew up in, with his wife, Cindy, and their daughter, Erica. When Jim is not devising new strategies for retirees to save taxes and accumulate wealth (which is most of the time), he enjoys bicycling, hiking, skiing, and traveling with his family. Jim also plays chess and bridge both online and with his friends. Looking For More Proven Wealth-Building Strategies from Lange Financial Group, LLC? Check out these
CASE STUDY 7.1 Benefits of a Roth IRA Conversion Suppose you have a financially identical twin, and you are both 65. Because you read Retire Secure! and after consulting with your financial advisor, you decided to make a series of Roth IRA conversions that total $250,000. Your twin, however, never even learns about the possibility of a Roth IRA conversion. Every year for five years from the time you are 65 to 69, you convert $50,000 (growing at 6 percent each year) from the traditional IRA to a
be customized for your needs and goals. My preference for George and Susan is to combine the concepts of annuitizing and maintaining a retirement plan. If George and Susan annuitize one-fourth, or $400,000, of their $1.6 million in retirement funds, they would then be free to invest the remaining $1.2 million in a well-diversified portfolio and still look to enjoy the benefits of any future gains in the market. A $400,000 annuity would provide them with a retirement annuity income of $22,972 per
One risk is that the issuing insurance company will go bankrupt and be unable to meet its obligations to pay the annuity. State governments provide some guarantees to protect against their insolvency, but, like the Pension Benefit Guaranty Corporation discussed earlier, some of those plans are stretched to the maximum because of insurer insolvencies. You can minimize your risk by choosing insurance and annuity companies with Standard & Poor’s quality ratings of at least AA or preferably AAA, even
used in these calculations were from 2014, and were relatively low at the time. If rates are higher when you’re reading this, then the income would be even higher. If we assume an inflation rate of 2.5 percent per year, these amounts provide an annual income in today’s dollars of about $31,902 for the life only option or $20,903 for the installment refund option at age 85. Each year thereafter, the real income in today’s dollars drops due to the continued effects of inflation. These two amounts