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Author: Rick Rodgers

Publisher: Marketplace Books

ISBN: 1-59280363-6


If you plan to live long enough to retire and if you don’t want to hand over the lion’s share of your hard-earned money to the IRS, then you’ll want to get this book. Don’t worry if you don’t understand tax code or complicated law; Rodgers lays out the hows and whys in clear, simple language that everyone can understand. That is a good thing, because letting your money set unattended year after year could end up costing you or your family almost everything.

The New Three-Legged Stool opens with the story of a family who ended up paying the IRS 85% of all their inheritance. The parents worked hard all their lives to provide for their children as well as to give to their community. They employed local 1,000 residents in their business. They saved all their money in a IRA—like a lot of Americans, thinking that was safe. Tragically, upon the parents’ death, the children received practically nothing as government taxes gobbled up the cash. Unfortunately, this is not an unusual story; and it could happen to you if you don’t properly safeguard your retirement.

Rick Rodgers is a Certified Financial Planner, Certified Retirement Counselor, and a member of the National Association of Personal Financial Advisers. His company, Rodgers & Associates, was named by Wealth Manager magazine as one of the country’s top wealth manager

Rodgers uses a three-step, or three-legged, approach to financial planning:

            1) Tax-deferred savings strategies are the easiest money to invest. However, you need to be aware that you will pay taxes on the money later, so relying solely on this one leg of the stool is a mistake.

            2) After-tax saving strategies include your bank and brokerage accounts as well as investment real estate. You must be careful in how you invest, because you pay taxes along the way.

            3) Tax-free savings strategies include the Roth IRA and Roth 401(k), which are harder to save in because you’re using after-tax dollars.

Rodgers provides the reader with step-by-step advice and case studies to bring it home. You learn how to use the three legs to your advantage.

Pertinent tips are throughout. For example, in the section “Tips for Taking an Early Retirement,” is this tip: “The financial press often reports you estimate your retirement expenses to be about 80% of those you incurred before retirement. My experience has shown most people want to keep the same standard of living and just replace work-related expenses with the other expenses I mentioned.” He goes on to explain how to factor in the effect of inflation on your retirement expenses.

This informative and educational book ends with how to create your own detailed investment plan.

I don’t know how much it would cost to pay Rodgers an hourly consultation fee, but one thing is for sure: at less than $19 online, this book is a bargain. It just might be one of the best investments you can make for your retirement.

Follow Here To Purchase The New Three-Legged Stool: A Tax Efficient Approach to Retirement Planning (Wiley Trading)

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