The Truth About Personal Finance (Collection)

585 Pages·2010·2.1 MB·English

by  Steve Weisman, Kay S. Bell

The Truth About Personal Finance (Collection)

Steve Weisman
Kay S. Bell
The Truth About Protecting Your IRAs and 401(k)s

Steve Weisman
© 2009 by Pearson Education, Inc.
Publishing as FT Press
Upper Saddle River, New Jersey 07458

This book is sold with the understanding that neither the author nor the publisher
is engaged in rendering legal, accounting, or other professional services or
advice by publishing this book. Each individual situation is unique. Thus, if legal
or financial advice or other expert assistance is required in a specific situation,
the services of a competent professional should be sought to ensure that the
situation has been evaluated carefully and appropriately. The author and the
publisher disclaim any liability, loss, or risk resulting directly or indirectly from
the use or application of any of the contents of this book.

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Library of Congress Cataloging-in-Publication Data

Weisman, Steve.
The truth about protecting your IRAs and 401(k)s / Steve Weisman.
p. cm.
ISBN 0-13-233384-8 (pbk. : alk. paper) 1. Individual retirement accounts--
United States.
2. 401(k) plans. 3. Retirement income--United States--Planning. I. Title.
HG1660.U5W45 2009
332.024’0145--dc22
2008034752

Vice President, Publisher
Tim Moore
Associate Publisher and Director of Marketing
Amy Neidlinger
Executive Editor
Jim Boyd
Editorial Assistant
Pamela Boland
Development Editor
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Operations Manager
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Publicity Manager
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Cover and Interior Designs
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Design Manager
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Managing Editor
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Copy Editor
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Proofreader
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Manufacturing Buyer
Dan Uhrig
Dedication

“To laugh often and love much.. to appreciate beauty, to find the best in
others, to give one’s self... this is to have succeeded.”
Ralph Waldo Emerson

This book is dedicated to my wife Carole, without whom there would be no
success.
Contents

Introduction

Truth 1. IRA

Truth 2. Let’s get it started (IRA style)

Truth 3. 59 1/2 and 70 1/2

Truth 4. Earned income

Truth 5. IRA deductions

Truth 6. Distributions from IRAs

Truth 7. Minimum required distributions

Truth 8. Withdrawal pains

Truth 9. Spousal IRA

Truth 10. Trusts as IRA beneficiaries

Truth 11. Beneficiary designations

Truth 12. Customizing beneficiary designation forms

Truth 13. Self-directed IRAs

Truth 14. Stretch IRA

Truth 15. Disclaimers

Truth 16. Inheriting an IRA

Truth 17. Maximizing IRA benefits for a surviving spouse

Truth 18. Roth IRA for children

Truth 19. IRA conversions