Don't Die Broke: Taking Money Out of Your IRA, 401(k), ... (ISBN 1576600408)

Amazon.com Review:
Don't Die Broke: How to Turn Your Retirement Savings into Lasting Income, by personal-finance writer and financial-education specialist Margaret A. Malaspina, offers a fresh take on one of today's hottest money matters by outlining ways to tap most effectively into the retirement nest egg that you're currently nurturing. While most such guides concentrate on actually amassing those future fiscal resources in the first place, Malaspina shows instead how to maximize what you're (hopefully) already building so you'll (hopefully) always have what you need. "Most people find themselves making decisions about retirement plan distributions with little guidance," she writes. "Few people understand the consequences of their choices--or, indeed, what choices they have." In clear, highly focused chapters, she offers solid suggestions for creating a lasting retirement income, lowering potential taxes, and building an estate worth passing along. --Howard Rothman

This book is a lifeline...highly recommend it:
Like so many of my friends, my husband's and my focus has been all about reaching some magic number that would say, ok,now it's safe to retire without going broke... We gave not a thought to how we'd manage the money afterwards. But then we began to hear rumors ... you must do this, you can't do that, and panic set in. Finally, after reading Ms. Malaspina's book, we understand what's really going on (better than we did after talking to our accountant!). I've given this book to friends and even a cousin who was 69-1/2 and didn't have a clue about the need to start drawing on certain retirement savings. This book should be required reading for anyone over 50. Thanks, Bloomberg Press!

Excellent Treatise On A Very Complicated Topic:
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.

Don't believe the subtitle:
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!

A practical, step-by-step, effective approach:
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.

A Solid Effort!:
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.