Don't Die Broke: Taking Money Out of Your IRA, 401(k), or Other Savings Plan - and Creating Lasting Retirement Income

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Summary: A practical, step-by-step, effective approach
Review: In Don't Die Broke, Margaret Malaspina offers a careful, practical, step-by-step, effective approach to ensuring proper and profitable management of money. Here is a wealth of useful advice and counsel on making money last, avoiding the need to spend retirement years worrying about financial security. The reader will learn how to turn assets into income; create a monthly paycheck from savings, stocks, and other financial resources; avoid making irreversible mistakes with retirement savings; understand a company's retirement plans, individual retirement accounts (such as the new Roth IRAs); transfer wealth to heirs; and minimize taxes on retirement savings. Don't Die Broke is "must" reading for anyone seeking relief from financial stress in their retirement and eventually being able to leave something to loved ones.

Rating:
Summary: A Solid Effort!
Review: Many rules and regulations govern pension plans. The technicalities are complicated and change constantly. People can make irrevocable errors doing something as simple as moving assets from one plan to another. Margaret A. Malaspina cuts through retirement plan red tape and explains the jargon. She shows you how to get to your money after you have worked hard to save it. This book demystifies your options and clarifies the consequences of your choices. The author makes reading about taxes relatively painless. We at getAbstract recommend this book to anyone planning retirement, switching retirement plans, or withdrawing retirement funds. However, because of its discussion of United States tax law, it is not useful to those in other countries.

Rating:
Summary: Excellent Treatise On A Very Complicated Topic
Review: Margaret Malaspina has done an incredible service to the taxpaying world in her book. As a Certified Public Accountant, I can attest to fact that dealing with the Internal Revenue Service Code is an extremely difficult process. She has consistently dealt with this complicated and very confusing subject and de-mystified it in a way that heretofore has never been done. As more and more assets of American citizens are finding their way into retirement accounts, the timing of this book is perfect. What might appear to be some type of simple election or investment decision can backfire in terms of significant additional taxes. She attempts and succeeds in identifying these problems and proposing appropriate solutions. I have read it thoroughly and have recommended it to my clients and friends.

Rating:
Summary: Don't believe the subtitle
Review: The subtitle is "Taking Money out of your IRA, 401(k), or other savings plan-- and creating lasting retirement income, but there's precious little useful how-to here. There's basically one chapter (9) that deals with the details of setting up a withdrawal plan and the advice boils down to "go find an investment advisor". Most of the book is spent explaining 401ks, IRAs, workplace plans, etc.

It's my own fault, though. Next time I'll read the TOC before buying!