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The Complete Guide to IRAs and IRA Investing: Wealth-Building Strategies Revealed

Overview

As more and more baby boomers reach retirement age and because retirement seems to come at an earlier age, the importance of saving for your nonworking years has become increasingly apparent. Many people find themselves worrying that they will not be able to maintain their current lifestyle once they retire. However, the strategies provided in this book will help turn your IRA into a wealth-building tool.

The Complete Guide to IRAs and IRA Investing will show you how to take ...

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Overview

As more and more baby boomers reach retirement age and because retirement seems to come at an earlier age, the importance of saving for your nonworking years has become increasingly apparent. Many people find themselves worrying that they will not be able to maintain their current lifestyle once they retire. However, the strategies provided in this book will help turn your IRA into a wealth-building tool.

The Complete Guide to IRAs and IRA Investing will show you how to take control of your investment future and make sure your IRA investments are performing. You will learn about Roth IRAs, traditional IRAs, SEP IRAs, SIMPLE IRAs, and self-directed IRAs, the advantages and disadvantages to each, and how to choose the right plan for you. You will learn about the Economic Growth and Tax Relief Reconciliation Act of 2001, rules regarding distribution, roll overs, transfers, and conversions between accounts, valid adjustments, adjusted gross income, annual contribution limits, potential penalties, and tax-deductible contributions. This book details the myths and truths about IRA investing and IRS guidelines.

In addition, this book will show how to open an IRA, choose the right financial adviser, and how to set up your account with a custodian or IRA administrator to deal with the day-to-day activities, such as depositing contributions and executing and settling transactions. The Complete Guide to IRAs and IRA Investing provides insight and insider secrets to help secure financial victory after your retirement.

Atlantic Publishing is a small, independent publishing company based in Ocala, Florida. Founded over twenty years ago in the company president’s garage, Atlantic Publishing has grown to become a renowned resource for non-fiction books. Today, over 450 titles are in print covering subjects such as small business, healthy living, management, finance, careers, and real estate. Atlantic Publishing prides itself on producing award winning, high-quality manuals that give readers up-to-date, pertinent information, real-world examples, and case studies with expert advice.  Every book has resources, contact information, and web sites of the products or companies discussed.

This Atlantic Publishing eBook was professionally written, edited, fact checked, proofed and designed. The print version of this book is 288 pages and you receive exactly the same content. Over the years our books have won dozens of book awards for content, cover design and interior design including the prestigious Benjamin Franklin award for excellence in publishing. We are proud of the high quality of our books and hope you will enjoy this eBook version.

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Product Details

  • ISBN-13: 9781601382023
  • Publisher: Atlantic Publishing Group Inc.
  • Publication date: 12/11/2009
  • Pages: 288
  • Product dimensions: 6.00 (w) x 8.90 (h) x 1.40 (d)

Table of Contents

Foreword 13

Introduction 19

Section 1 Understanding Iras 23

Chapter 1 What is an IRA? 25

Your Ticket to a Secure Financial Future 25

History of IRAs 26

How Does an IRA Work? 30

IRAs and Income Tax 32

Chapter 2 Traditional IRAs 35

Tax Benefits 35

Types of Investments 37

Rules and Restrictions 38

Withdrawals 41

What You Cannot Do With a Traditional IRA 43

Common Strategies with a Traditional IRA 46

Simplified Employee Pension (SEP) IRAs 54

Advantages of an SEP 58

Education IRAs: Coverdell Education Savings Accounts (CESAs) 60

Simple Iras 62

Chapter 3 Roth IRAs 65

Rules and Restrictions 65

Conversions and Rollovers from Other IRAs and Retirement Plans 73

Reporting a Loss on a Roth IRA 78

Common Strategies with Roth IRAs 79

Chapter 4 IRAs, 401 (k)s, Profit-Sharing Plans 83

Profit-Sharing Plans 83

Stock Bonus Plans 86

Money Purchase Pension Plans 86

Employee Stock Ownership Plans (ESOPs) 87

Defined Benefit Plans 87

Target Benefit Plans 88

Keogh Plans 88

IRAs and 401 (k)s 89

What to Do with Your 401 (k) When You Leave a Company 90

Section 2 Setting Up And Managing An Ira 95

Chapter 5 How to Set Up an IRA 97

What are Your Investment Objectives? 97

How Much Do You Need for Retirement? 98

Considerations in Planning Your IRA 99

Leaving an IRA to a Charity 104

When Should You Open an IRA? 104

How to Find an IRA 107

Financial Advisors 111

Contributions 112

Achieving Your Goals 116

Chapter 6 Your Portfolio 123

Building Your Portfolio 124

Investment Styles 126

Modern Portfolio Theory 132

Asset Allocation 144

Your Portfolio 149

Chapter 7 Self-Directed IRAs 171

The Major Players 172

Choosing anAdministrator 173

Funding a Self-Directed IRA 177

Checkbook Control 178

Managing Risk 179

Real Estate 181

Real Estate Options 184

Taking RMDs 192

Loans 192

Precious Metals 193

Prohibited Transactions 193

Section 3 Making Withdrawals From An Ira 197

Chapter 8 Early Withdrawals 199

Early Distributions - 59V2 Rule 199

Early Withdrawals of Nondeductible Contributions from Traditional IRAs 205

Early Withdrawals from Roth IRAs 206

Chapter 9 Required Minimum Distributions (RMD) 211

When Do You Begin Taking the RMD? 211

Calculating Your RMD 212

How Do You Take Your RMD? 214

RMDs for Multiple IRAs 215

An Extra Amount Withdrawn One Year Cannot Be Credited to a Later Year 215

Penalty For Failure to Take Your RMD 216

Effect of RMDs on Your Finances 217

Chapter 10 IRAs and Your Taxes 219

Income Tax Brackets 220

Basis 223

Tax Deductions for Losses on Investments in Your IRA 225

Investments in Taxable and Non-Taxable Accounts 227

Additional Tax Penalties 229

Section 4 Iras And Estate Planning 231

Chapter 11 Planning for Your Beneficiaries 233

Tax Consequences of Inheriting an IRA 234

Your IRA and Your Will 239

Naming Your Beneficiaries 240

Your Custodial Agreement 248

Stretching an IRA 249

Convert to a Roth IRA 253

Keep All Your IRA Documents in One Place 254

Chapter 12 When You Inherit an IRA 255

How Large is Your Inherited IRA? 256

Do You Need Cash? 257

What Are Your Tax Liabilities? 257

Life Expectancy Rule 258

The First Step: Name a Successor Beneficiary 259

Spouse Sole Beneficiary 260

Non-Spouse Beneficiary 263

Multiple Beneficiaries 265

Reporting Distributions From an Inherited IRA 268

Chapter 13 Special Circumstances 269

Divorce or Separation 269

Common IRA Mistakes 274

What to Do When You Make a Mistake 277

Ineligible Contribution to a Roth IRA 280

Private Letter Ruling 281

Chapter 14 Your IRA and the Economic Crisis of 2008 - 2009 283

Things May Never Be the Same Again 284

Perception and Trust 290

What the Government Can Do 292

Managing Your IRA in a Down Economy 293

Appendix A Acronyms 299

Appendix B Glossary 303

Appendix C Useful Web Sites 317

Appendix D Federal Government Publications and Forms 329

Appendix E Lifetime Expectancy Tables 333

Bibliography 351

Author Biography 355

Index 357

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Sort by: Showing all of 6 Customer Reviews
  • Posted February 24, 2012

    A must read for anyone who plans to retire.

    Martha's knowledge of both IRA's and IRA Investing will help you move comfortably toward your goals for retirement.

    This well written book will take much of the guess work out of your future. To garner information through someone else’s experience is much better than learning by your own mistakes.

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  • Posted February 25, 2010

    Great, Simple Guide to IRA Investing

    The Complete Guide to IRAs and IRA Investing: Wealth Building Strategies Revealed-by Martha Maeda

    This book could not have become available at a more opportune time. For the past two years the United States has suffered through the worst recession since the Great Depression and most economists agree that we have just barely started to see some improvement. Author Martha Maeda's timely guidebook to IRA investing acknowledges that little bit of good news, and then gives us a foundation for taking advantage of IRA investing as a means to ensure that our coming retirement years will be financed properly.

    She examines the "insecurity" of Social Security and discusses at length how the usual time honored methods of investing in this country have changed and what other options are available. IRAs are safe, reliable, and in the current economy provide an investment haven for the large upcoming wave of baby boomers searching for a conventional, risk free way of saving for retirement. For those not familiar with the tax rules of IRA investing Ms. Maeda spells out who is eligible, how to set up an account and how to optimize your return. In simple, easy to understand language she gives the reader a blueprint for systematic, "painless" wealth building for the future.

    We live in uncertain financial times, but after reading The Complete Guide to IRAs and IRA Investing and utilizing the information found therein you will feel confident that your future can be as secure as you always worked so hard for it to be. Rating: ****

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  • Posted January 27, 2010

    5 Stars!!

    The Complete Guide to IRAs and IRA Investing: Wealth-Building Strategies Revealed is a simple yet thorough guide to explaining how individual retirement accounts exist and operate, and how they can be beneficial to this generation's retirement plans. As an inexperienced twenty-five year old woman, I had no idea what an "IRA" was until I picked up the book and, at first, had no intentions whatsoever of learning about them. Martha Madea's book honestly changed my mind and has woken me up to the realization that where we stand financially in this world, we cannot depend on Social Security by the time my generation retires.
    And the best part? It wasn't confusing at all! From it's easy-to-understand explanations of both standard and flexible accounts, to it's educated and detailed rules for helping investors ask correct questions in order to determine what plan is right for them, this book definitely accomplishes all the goals the author set. Even at 362 pages and four sections, this guide is easy to follow and read. I'd recommend this book to anyone looking to not only make the best choices for their personal financial plans, but also to anyone who wants to understand the realities of where our generation is heading, and how we can prevent ourselves from sinking before it's too late.

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  • Posted January 13, 2010

    Deciphering the IRA Puzzle

    For those who understand little about investment portfolios, the numerous options available can be daunting. This book seeks to simplify and explain the differences between standard Individual Retirement Accounts and the more flexible Roth IRA's.

    The Individual Retirement Account has become more of a focus here in the United States as the average worker often changes jobs and companies several times throughout their working career. Gone is the day of working 45 years for one company and resting on a pension plan throughout retirement. Explaining everything from the frequent changes to the laws governing privately funded IRA's to the definitions and terminology used, this book sorts through the details so that an educated decision can be made regarding these issues.

    Most helpful are appendixes at the back that include a glossary of terms and an explanation of acronyms used in the financial industry. IRA's are formed on the belief that long term investments offer the greatest stability whether the stock market rises or falls. After reading this book, the reader will have the awareness to make the best choices with the greatest financial reward for his or her family.

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  • Posted December 29, 2009

    Building your wealth with IRAs

    If you are in your '20s and just starting a career path, Individual Retirement Arrangements, or IRAs, probably mean nothing to you. Unfortunately, with the aging baby boomer generation, Social Security won't mean anything when today's 20-year-olds hit retirement, either. Considering the current state of the economy and the projected deterioration of Social Security, the American work force must take retirement into its own hands. IRAs are only one way to save money that will accrue interest upon retirement. Martha Maeda's book "The Complete Guide to IRAs and IRA Investing: Wealth-Building Strategies Revealed" provides a thorough explanation of income investments that just might change the way the current working generation retires.

    According to Maeda, there are no books out there that can tell the future retiree how to invest his or her money now, but there are many specialized books for hard core investors, explaining the subtle nuances of investing in IRAs. You don't need to be a hard core investor to want a brighter financial future for you or your loved ones, and Maeda's book will help you secure an ideal retirement.

    Since the current work force can neither rely on the government nor rely on their employers to secure a financially comfortable retirement for them, Maeda explains the rules to IRA investing including what types of IRAs exist and how to obtain them through a financial institution. Helpful charts and figures compare IRA investments in a nutshell. Maeda also follows the life cycle of an IRA, from its opening to its distribution, and even if it is inherited by a beneficiary or charity. This narration of the life cycle of an IRA helps investors ask the right questions and determine what type of IRA is right for them.

    Maeda's book covers leaving an IRA in your will so that the proper beneficiaries will reap financial rewards should you die before its distribution. If you inherit an IRA, the book covers how to deal with that as well. Maeda's book covers a vast sea of topics with an alphabet soup of acronyms, and makes it easy for the IRA dummy to understand in a glossary terms, acronyms and sources. Whether you are a first-time investor or have an expansive stock portfolio, this book is for you.

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  • Posted December 23, 2009

    more from this reviewer

    The Complete Guide to IRAs and IRA Investing: Wealth Building Strategies Revealed By Martha Maeda The Complete Guide to IRAs and IRA Investing: Wealth Building Strategies Revealed By Martha Maeda

    Martha Maeda is an economic historian with special interest in micro-economics and in the effects of globalisation on the lives of people and businesses all over the world. She is also the author of; The Complete Guide to Investing in Bonds and Bond Funds: How to Earn High Rates of Return Safely (which is a great resource for anyone interested in bonds and investing in them). In this book she sets out to inform a new investor on what IRAs are, how IRAs work and also how to invest in them. This book certainly accomplished her intentions. The book has about 362 pages and has 4 sections. There are "Tips" which offer important information on a wide variety of topics.
    If you are totally new to IRAs then may I suggest you start from Section 1 which deals with what IRA means, the history of IRA and how IRAs work? The book is simple to read, the language is clear and easy to understand. If you have some experience in IRAs then, you may want to skip this section. After reading this book, you will be adequately informed on IRAs to decide if you want to handle your own IRA investment or employ someone to do it for you.
    I enjoyed reading this book and recommend it for this reason; while most books on IRAs tend to confuse and sometimes overwhelm readers, this book makes you want to take a new look at IRAs and how they work. You will learn how making early withdrawals from your IRA for other purposes may sabotage your retirement. You will also learn that in 2010 only, the income limits will be phased out entirely and anyone will be to contribute to a Roth IRA.
    The recent economic downturn caused so many people to lose their investments, homes and retirement savings due to a lack of information.
    This may have been prevented if more people had the right kind of information and made the right kind choices. I honestly believe that this book will provide answers to many unanswered questions readers may have.

    I rate this book as a 4 star.

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