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401(k)s & IRAs For Dummies

Book Hero Magic crafted this summary to help describe this book. While it's new and still learning, it may not be perfect - your feedback is welcome! Summary
401(k)s & IRAs For Dummies by Ted Benna is a practical guide that explains the intricacies of retirement planning using 401(k) plans and IRAs. It provides readers with strategies for maximising their investment growth, offers insights into tax benefits, and guides on making informed decisions for future financial security. This book is ideal for anyone looking to navigate the complexities of retirement savings.
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Format: Paperback / softback
$5699
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Book Hero Magic created this recommendation. While it's new and still learning, it may not be perfect - your feedback is welcome! IS THIS YOUR NEXT READ?

You might enjoy this book if you're looking to demystify retirement savings plans and navigate their complexities with ease. It appeals to those who want clear guidance on maximising their investment for the future, making it an invaluable resource for both beginners and those looking to optimise their retirement savings strategies.

Book Hero thinking about your next read

Book Hero Magic formatted this description to make it easier to read. While it's new and still learning, it may not be perfect - your feedback is welcome! Description

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, minimise your investment risk, and maximise 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 recharacterise IRA or Roth contributions
  • Why IRA based plans are a better option 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!

Book Details

INFORMATION

ISBN: 9781119817246

Publisher: John Wiley & Sons Inc

Format: Paperback / softback

Date Published: 20 December 2021

Country: United States

Imprint: For Dummies

Contributors:

  • With Brenda Watson Newmann

Audience: General / adult

DIMENSIONS

Spine width: 23.0mm

Width: 185.0mm

Height: 231.0mm

Weight: 476g

Pages: 352

About the Author

Ted Benna is commonly referred to as the “father of 401(k)” because he created and gained IRS approval of the first 401(k) savings plan.

Brenda Watson Newmann began her career as an Associated Press foreign correspondent and later moved to Silicon Valley as Managing Editor at 401k Forum/mPower.

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