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More About This Title The New Three-Legged Stool: A Tax Efficient Approach to Retirement Planning
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Most people dream of retirement as a relaxing, worry-free time in their lives. What many do not realize is that the IRS is also looking forward to the day you retire. Our complicated tax system can mean the government is entitled to a significant amount of your retirement assets-unless you protect them properly.
Now, Rick Rodgers, founder of one of the country's top wealth managers, helps you retain as much of your hard-earned retirement assets as possible. His unique Three-Legged Stool approach to financial security makes it both easy to understand how to achieve this retirement security and difficult to "lose balance"-that is, to get off-track once you've established your plan.
Rodgers will show you how to balance between the three "legs," or components, you will need to create the most tax-effective financial structure.
Leg One, Tax-Deferred Savings StrategiesLeg Two, After-Tax Savings StrategiesLeg Three, Tax-Free Savings StrategiesPlus, a closer look at
the all-important Retirement Distribution (R/D) FactorSocial SecurityEstate planningWith real-life case studies, tips, and recommendations from Rodgers' own experiences as a Certified Financial Planner and Certified Retirement Counselor, this guide will help you establish a plan to build the retirement you and your family have always dreamed of-and deserve.
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Rick Rodgers, CFP®, CRPC®, CRC®, is founder and President of Rodgers & Associates. His career in the investment and financial advisory profession began in 1984 with one of the big six Wall Street firms. Twelve years later, he founded Rodgers & Associates as a way to concentrate on financial planning. His vision was to help families prepare for a worry-free retirement through the creation and conservation of their wealth. Today, as a leading retirement expert and personal wealth advisor to high-net-worth individuals, Rick provides integrated financial, tax, and investment strategies, retirement planning, executive compensation, and estate and charitable planning.
Since 2010, Rick has become a regular guest on television programs nationwide. Producers and hosts alike praise Rick for his sharp wit and expert commentary on retirement planning and tax strategy.
A committed Christian, Rick was a field representative for Larry Burkett's Christian Financial Concepts (now known as Crown Financial Ministries). Active in both his church and community, Rick has also volunteered as a mortgage counselor for Tabor Community Services. He currently serves on the finance committee of the United Way of Lancaster County and the advisory boards of SCORE Lancaster, The Ware Center, and The Mix at Arbor Place. Rick and his wife Jessy live in Lancaster, Pennsylvania. In addition to spending time with his seven grandchildren, Rick enjoys golfing and boating on the Chesapeake Bay.
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Introduction: The Un-Funniest Story Ever Told vii
Why Would the IRS Steal Your Money? xiii
Who Am I to Give You Advice? xv
The Three-Legged Stool™ Approach to Financial Security xvi
Chapter One: Leg One: Tax-Deferred Savings Strategies 1
The Main Tax-Deferred Accounts: A Refresher Course 1
Prevent the IRS From Touching Tax-Deferred Distributions 11
NUAs Keep the IRS Away From Tax-Deferred Stock Distributions 33
Chapter Two: Leg Two: After-Tax Savings Strategies 39
Transfer Highly Taxed Assets into Tax-Deferred Accounts 39
Begin to Build Your Investment Plan Around Asset Allocation 44
Five Steps to Reducing the Wrong Kind of Investment Risk 50
How to Invest in a Tax-Efficient Way 65
Implement a Zero Tax Bracket Approach 72
Chapter Three: Leg Three: Tax-Free Savings Strategies 79
Understanding Roth Accounts 79
Roth IRA Conversions: Better than Any Tax Break 85
Chapter Four: Distributions: Strike an Ideal Balance Among All of Your Accounts 93
The Retirement Distribution (R/D) Factor™ 93
How and When to Take Retirement Savings Distributions 97
Tips for Taking Early Retirement 114
Get Guidance From a Good Financial Advisor 126
Chapter Five: Understanding Social Security 137
Social Security: A History 137
How Your Benefits are Calcluated 140
When to Begin Taking Benefits 147
The Tax on Your Benefits—and How to Reduce It 150
Social Security Reform 157
Chapter Six: Keep the IRS Out of Your Estate 163
Five Reasons to Reexamine Your Estate Plan 163
Estate Tax Overview 165
Gift ing Strategies for Avoiding Estate Taxes 167
Estate Planning with a Roth IRA 177
Beneficiaries: Key to Any Solid Estate Plan 181
Appendix: How to Write a Personal Financial Plan 189
Part One: Establish Clear Advisor-Client Communication 190
Part Two: Create a Detailed Investment Plan 192
Glossary 197
About Rick Rodgers 201
