Cracking Your Retirement Nest Egg (Without Scrambling Your Finances): 25 Things You Must Know Before You Tap Your 401(k), IRA, or Other Retirement Savings Plan

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Cracking Your Retirement Nest Egg (Without Scrambling Your Finances): 25 Things You Must Know Before You Tap Your 401(k), IRA, or Other Retirement Savings Plan

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So what do you do with the money you've saved? When it comes to retirement savings, the message you always hear is "save, save, save." Investment advice is "grow, grow, grow." But what happens when you reach that day when it is time to write your own retirement paycheck? Where do you start? How do you turn your savings into income? Do you know which resources to tap first? In light of the recent tax law changes, how can you be tax smart about your retirement income? And where can you turn for simple, clear advice about the complex IRS rules and regulations that you must follow when withdrawing from your savings?

Most of us don't know what to do when faced with all these questions. Cracking Your Retirement Nest Egg takes the entire spectrum of advice for the period leading up to and into retirement, distills it into the 25 most important things one needs to know to begin retirement on solid financial ground, and presents the investment guidance of some of the top planners in the country.

If you are one of the millions of baby boomers hitting 50, 55, and beyond, and have to make these important decisions, you need to consult this book before cracking your retirement nest egg.

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Customer Reviews

Retirement Planning is a pain BUT...

Review Date: May 26, 2009

Reviewer: Jay Stevenson, New Franklin, MO

I retired in July 2006. I also bought this book when it came out in 2003. I AM VERY GLAD I DID! (Also just bought another copy in May 2009.)

Yes, the book is getting long in the tooth. Today, the contribution limits for 401(k)'s, IRA's and the Roth versions are much higher. But that doesn't change the fact that a person should have a strategy for, and be implementing that strategy at least five years before, retirement.

From my point of view, Chapter 3, When to get started and How, lays out a five year strategy to get your ducks in a row. With the reduced book price by Amazon Market Sellers from the original cover price, this book is worth it just to help frame a retirement strategy.

Likewise, the book is a great accumulation of knowledge on the various retirement programs, including 401K's, IRAs, et al. (Just remember that contribution limits and some rules for income caps have changed since 2003.)

I suspect the author's perspective was not to generate a know all book to cover every continguency for every tax loophole for any given program (e.g., Social Security taxes in other reviews), but rather the book was written to give a basic foundation of knowledge of how these programs work and what we should be considering as we approach retirement.

For me, personally, I benefited greatly by reading this book before my retirement. And I took extra steps, based on the book's input, to get my ducks lined up before my retirement. Glad I did! In fact, I liked this book so much, I have bought a half dozen copies for my friends over the years, and recently for some cousins, who are looking at retiring within 5 years.

Good luck in planning YOUR retirement....

Turtlehut incorrect

Review Date: July 28, 2005

Reviewer: Susan E. Gibbons, Fairless Hills, PA United States

In Turtlehut's review he/she said social security answer ID277 indicated that certain income was not counted in determining if there was to be an income tax on benefits. That is not correct. That information relates to the earnings limit test,or how much income is counted on which a worker pays fico taxes into the fund. There are people who collect pensions and still work. I should know, I pay income tax all my retirement income including social security and it is punitive. The tax was imposed in l983....thank Ronald Reagan and his revolting congress.

Right On Retirement

Review Date: September 17, 2004

Reviewer: Serious about money, Jacksonville, FLA

Geez, I find Tut's review inappropriate. My copy had an errata sheet with a correction for the error that is cited, which is more than I can say for some of the other books I've read on retirement. The book is readable, comprehensive and not too technical. I found answers to a lot of my questions. I particularly liked that I could find the information I needed without reading the whole book. Malaspina seems to know enough about her audience to have anticipated the key issues and organized them from the most basic to the most arcane. My advice: If you are within 5 years of retirement, this book should be on your "must read" list.

First thing I read was wrong

Review Date: April 18, 2004

Reviewer: Michael L. Zierdt, Indianapolis, IN USA

I just received this book and thumbing through it read Ohapter 14 on Social Security. On page 141 she that at age 62 you lose $1 in benefits for every $2 in earnings above $11,500 - which is correct. But then she goes on to saying "You can't get around these reductions in benefits by supplementing your Social Security income with withdrawals from your other savings or retirement plans. CAPITAL GAINS, dividends, interest income, and any other withdrawals from your retirement plans or accounts count as income and you fail the test if you push past $11,500 or $30,000 regardless of source."

This seemed wrong to me so I went to the Social Security web site. The SSA says (answer ID 277): "Nonwork sources of income, such as: inheritance payments, pensions, income from investments, IRA distributions, interest, or other sources do not count as wages for the earnings test."

What other errors are there in this book? I don't trust it after 30 minutes of reading, certaintly not to help with my retirement decisions. At least I only lost the cost of the book

Retirement advice you can actually understand

Review Date: March 11, 2003

Reviewer: smartandgray, Chicago

I stumbled across this book browsing in my local bookstore and I couldn't believe my eyes. It laid out everything you need to know to retire. It is extremely well-organized and well-written. I gave a copy to my financial advisor and told him I finally understood all the stuff he was trying to explain to me.

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Cracking Your Retirement Nest Egg (Without Scrambling Your Finances): 25 Things You Must Know Before You Tap Your 401(k), IRA, or Other Retirement Savings Plan

Cracking Your Retirement Nest Egg (Without Scrambling Your Finances): 25 Things You Must Know Before You Tap Your 401(k), IRA, or Other Retirement Savings Plan

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