401(k)s & IRAs For Dummies
401(k)s & IRAs For Dummies by Ted Benna, published by John Wiley & Sons on October 26, 2021, is a comprehensive guide designed to help individuals navigate the complexities of retirement planning. This edition, comprising 352 pages, provides essential information on managing 401(k) and IRA accounts, emphasizing the valuable tax benefits associated with each. The book offers practical advice on minimizing investment risks and maximizing returns, making it a useful resource for anyone at any stage of their retirement journey.
Readers will find detailed insights into the rules surrounding retirement plans, including updates from the SECURE and CARES Acts. The book covers a range of topics, such as tax strategies before and after retirement, required distributions, and penalties for early withdrawals. It also addresses the implications of divorce or death on retirement plans and offers guidance for small businesses and solo entrepreneurs in selecting the appropriate retirement options. With its focus on personal finance and retirement planning, this guide aims to equip readers with the knowledge needed to make informed decisions about their financial futures.
Official synopsis Publisher
From the basics down to investing, get the most out of your 401(k) and IRA in any economic environment
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!
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