401(k)s & IRAs For Dummies

Condition: BRAND NEW ISBN: 9781119817246 Author(s): Ted Benna Format: Paperback Language: English Year: 2021 Publisher: John Wiley & Sons Inc Pages: 352

Description: From the basics down to investing, get the most out of your 401(k) and IRA in any economic environment  When youâre ready to start setting aside (or withdrawing) money for your retirementâwhenever that might beâ401(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 youâre at in life.  Written by a well-known expert and âfather of the 401 (k)â , Ted Benna, 401(k)s & IRAs For Dummies helps you keep up with the ever-changing rules surrounding both retirement plansâincluding the rules from the SECURE and CARES Actsâand 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 spouseâs 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 employersHelping solo entrepreneurs and other small businesses pick the right type of plan Whether youâre just starting to think about a retirement plan, planning when to retire, or youâre facing retirement, youâll find useful and practical guidance in 401(