Business-plan

Saving money for retirement is not always easy, knowing where to put your money is perhaps complex with so many options. Depending on your situation, you can choose a plan with various tax consequences. Understanding the options is the first step towards a financially secure retirement.

This step-by-step guide will bring more understanding to the question of how to build a nest egg. The important principles of retirement plan investing are set out in a uncomplicated way. There are practical explanations to help you make sense of the legal and financial restrictions and opportunities. Charts show a visual representation of where you stand now and explain how you can reach your goals.

Will Social Security be enough to live on? According to the American Association of Retired Persons, Social Security benefits will replace 43% of the income you earn during the year before you retire. This income will also not protect you against inflation, so it is wise to plan for your own future.

Did you know there is a way to withdraw money from an IRA without penalty before you officially retire? See page 18. You might also want to consider an education IRA which is not a retirement account, but a vehicle to help pay for a grandchild's education. This handy book shows if you are eligible and what the contribution limits are.

While the information on taxes is comprehensive, you will still want to consult with a professional before making any final decisions. Some of the tax laws might have changed slightly from this edition but overall, the information will make you more aware of the choices you should consider to make the most of your money.

ESOPs are a boon or a boondoggle to a company. This book is thorough in the research involved in considering, completing and sustaining an ESOP. It is must reading for the owner considering an ESOP and for ESOP employee/owners. It clearly defines the pros and cons for the pre-ESOP owners, for the post ESOP majority owners and for the post ESOP minority employee/owners. Well researched, well written book. Very dry and technical, however, that is the nature of the subject.