So, You’ve Accumulated a Large IRA and/or Retirement Plan: Now What?
Includes Optimal Distribution & Estate Planning for your IRAs & Other Retirement Accounts
Saturday, September 21, 2024
Crowne Plaza
164 Fort Couch Road
Pittsburgh, PA 15241
(Across from South Hills Village)
OR
Saturday, September 28, 2024
Doubletree by Hilton Pittsburgh-Cranberry
910 Sheraton Drive
Mars, PA 16046
Two easy ways to reserve your seats now...
Call 412-521-2732 or register below.
If you are married, both spouses are encouraged to attend. Free refreshments will be served.
Each workshop will consist of the 3 sessions described below.
Roth IRA Conversions: Pay Taxes Once and Never Again
Little-Known but Highly Effective Roth Conversion Strategies and Related Techniques
This workshop addresses critical fundamentals like pay-taxes-later except for Roth plans.We will cover how to take advantage of the recent SECURE Act 2.0 and also introduce new cutting-edge Roth conversion strategies that can help mitigate the massive income tax acceleration your children will face because of the SECURE Act.
In this session, we will cover both foundational and advanced Roth conversion concepts and techniques including:
• The peer-reviewed math and optimal timing for Roth IRA conversions.
• The back-door Roth IRA.
• How individuals born between 1951–1959 profit from SECURE Act 2.0.
• How to move a portion of your taxable investments (IRAs and other retirement plans) to the tax-free investing environment (529 plans, your children’s Roth IRAs, and more). This shift could potentially be more valuable to your children than making Roth IRA conversions in your own accounts.
• Capitalizing on Roth IRA conversions through 2025 while favorable income tax rates remain and before the 2017 Tax Cut and Jobs Act’s Sunset Provisions take effect in 2026 and tax rates go up substantially.
• The timing synergy between when you begin taking Social Security and making Roth conversions.
• How to transition after-tax dollars in retirement plans to a Roth IRA at no cost—potentially saving hundreds of thousands of dollars in taxes down the road.
• How to convert an inherited retirement plan to a Roth at your beneficiary’s tax rate, not your own, after you die. (This is a little-known strategy with big tax savings for those who qualify.)
Who Says You Can’t Control from the Grave?
Using Trusts to Protect Your Family and the Best Estate Plan for Most Married Couples
The SECURE Act is no friend to virtually all IRA and retirement plan owners with $1 million or more in retirement plans. Unless you take aggressive action, it is likely that your loved ones will take a massive income tax hit upon inheriting any money from those plans. We will provide strategies to avoid massive taxation and explain how our disclaimer-based estate planning system fits into the picture.
Getting trust documents right, particularly when the underlying asset is an IRA or retirement plan is crucial. We will combine our newest thinking with some of our classic strategies for protecting your children or grandchildren from themselves, but also creditors, possibly including their spouse. Plus, this workshop shines a light on common sloppy and costly estate planning errors and how you can avoid them.
In this session, you’ll discover:
• How SECURE Act and SECURE Act 2.0 changes could impact your family and your legacy.
• How to ensure financial security for the surviving spouse, and potentially
save hundreds of thousands to pass on to your heirs.
• The details of the best (and most flexible) estate plan for married retirement
plan owners known as Lange’s Cascading Beneficiary Plan™ .
We’ll also dive into trust planning strategies, including:
• The pros and cons of having your heirs inherit your IRA and other retirement
assets directly versus through a trust.
• The growing popularity of the “I don’t want my no-good son-in-law to
inherit one red cent of my money” trust.
• A rarely discussed strategy—Who Gets What?—evaluates the tax consequences of leaving differing types of assets to children who are in different tax brackets. We will cover a similar strategy for charitable giving.
By optimizing your strategies, you could save hundreds of thousands of dollars in taxes.
7 Costly Retirement Mistakes and How to Avoid Them
I’ve spent decades guiding thousands of clients through the intricacies of securing their financial futures. Over the years I have identified recurring patterns of costly planning mistakes. We aim to help you avoid these common mistakes and provide you with sound professional advice. Here’s a sneak peek at two of the critical mistakes we will explore:
1. Allowing Lifelong Habits and a Depression Era Mentality to Blindside Effective Planning
Accumulating money for retirement is a great objective. Continuing to accumulate more and more money until you die and subjecting your almost retirement age children to massive taxation is not productive or helpful.
There are at least several unfortunate consequences to this lifestyle pattern:
• A retirement with fewer rewarding and enjoyable experiences, including missed family vacations,
• A missed opportunity to have provided heirs with financial assistance when they really needed it, and,
• A potentially huge tax burden for your children that could have been largely avoided with good planning. This mistake will undo many years of diligent saving and hard work. We will discuss how to balance saving with spending and explore ways to use your wealth effectively during your lifetime and pass it on after you are gone.
2. The Missing Link: The Gap Between Your Will & Your Beneficiary Designations
Perhaps you have a comprehensive estate plan with a detailed 30+ page will or trust. Sadly, some of your biggest assets—likely held in your IRA or other retirement accounts—may be distributed in a way that does not align with that carefully articulated plan. To be fair, I blame the estate attorney, not you. Estate attorneys make these and other extremely costly mistakes, and this session will identify a number of them and potential fixes.
Case in point, with respect to IRAs, etc., the beneficiary designation supersedes the instructions in your will or trust. And for many IRA owners, the beneficiary form was quickly filled out in two lines—spouse first and the kids equally as contingent beneficiaries. A significant mistake more often than not. We will show you how to ensure your retirement assets are distributed as intended.
These are just 2 of the 7 costly mistakes we will explore in the workshop. But best yet, we will provide practical solutions to help you avoid them.
Join us for this and engaging workshop to discover all 7 common mistakes and learn how to protect your hard-earned wealth.
Attend Jim Lange’s Workshops for FREE in September! Reserve your seats today.
Saturday, September 21, 2024
Crowne Plaza
164 Fort Couch Road
Pittsburgh, PA 15241
(Across from South Hills Village)
OR
Saturday, September 28, 2024
Doubletree by Hilton Pittsburgh-Cranberry
910 Sheraton Drive
Mars, PA 16046
Call 412-521-2732 or register by clicking here.
6 Valuable Bonus Gifts: Yours FREE When You Attend Any Session!
Bonus #1:
Register and you will receive a free hardcover copy of Jim’s magnum opus, Retire Secure for Professors and TIAA Participants, the best book Jim and his team have ever written. Please note 90% of the content is for all IRA and retirement plan owners. The book enjoys 74 glowing testimonials on Amazon.
Bonus #2:
A free hardcover copy of Jim’s best-selling book, Retirement Plan Owner’s Guide to Beating the New Death Tax, detailing how to respond to the SECURE Act.
Bonus #3:
A free hardcover copy of Jim’s best-seller, The Roth Revolution: Pay Taxes Once and Never Again. Jim shows how to use a series of Roth IRA conversions to grow income from your IRAs tax-free.
Bonus #4:
You will receive a laminated copy of our 2023-2024 Tax Planning Card.
Bonus #5:
Attendees will also receive a free hardcover copy of Jim’s brand-new book, Retire Secure for Parents of a Child with a Disability.
Bonus #6:
Qualified attendees are eligible for a FREE Retire Secure Initial Consultation with Jim Lange and one of his number-crunching CPAs.
Experts Praise Jim Lange’s Books
(All reviews are for Jim’s books, not his services.)
“Retire Secure! is a n invaluable resource for investors.”
— Charles R. Schwab, Chairman and Founder, The Charles Schwab Corporation
“Think of Retire Secure! as a GPS for your money. You may know where you are and where you want to go, but you don’t know how to get there. Jim offers the best route.”
— Larry King, Larry King Now
“Whether you are a professor or not Jim Lange’s book, Retire Secure for Professors and TIAA Participants, is a retirement planning MUST read. Jim masterfully shows you how to integrate estate tax, income tax planning, and insurance planning into a ‘financial master plan.’ Plus, he offers strategies for tax-efficient gifting to heirs and charities. With his help you can minimize taxes, leave the most to your heirs and favorite charities, and the least to Uncle Sam. NO ONE does it better. He provides easily understood examples that demonstrate the benefits of his strategies.”
— Larry Swedroe, Author, Your Complete Guide to a Successful and Secure Retirement
“James Lange’s book, Retire Secure!, covers two areas particularly well—Roth IRA conversions and estate planning for IRA owners.”
— Jane Bryant Quinn, Newsweek, AARP
“Retire Secure! is a very practical investment guide on how to defer taxes and efficiently plan for retirement and your estate.”
— Roger B. Ibbotson, Professor Emeritus in Practice of Finance, Yale University
“Keeping your investment expenses low and following Jim Lange’s tax savings strategies are the surest routes to a comfortable retirement.”
— Burton G. Malkiel, Professor of Economics, Princeton University; Author, A Random Walk Down Wall Street
About James Lange, CPA/Attorney
Jim Lange’s tax and estate planning strategies have been endorsed by The Wall Street Journal (36 times). He has authored 10 best-selling books. A well-known Roth IRA expert, Jim authored the first peer-reviewed article on Roth IRAs in 1998 which was published in AICPA’s journal, The Tax Adviser. He has authored 5 peer-reviewed articles in Trusts & Estates, and he is a regular contributor for Forbes.com.
Some of Jim’s books have become classics endorsed by the country’s top experts. Retire Secure! was endorsed by Charles Schwab, Larry King, Jane Bryant Quinn, and 50 other experts; The Roth Revolution, endorsed by Ed Slott and Robert S. Keebler; The $214,000 Mistake, How to Double Your Social Security and Maximize Your IRAs, endorsed by Larry Kotlikoff, Jonathan Clements, and Paul Merriman; The Retirement Plan Owner’s Guide to Beating the New Death Tax, endorsed by Burton Malkiel and Larry Swedroe; Retire Secure for Professors and TIAA Participants, endorsed by Roger Ibbotson and Stephan R. Leimberg, Esq.; and Retire Secure for Parents of a Child with a Disability endorsed by Tatyana McFadden and James M. Dahle, MD.
Disclaimer: Lange Accounting Group, LLC offers guidance on retirement plan distribution strategies, tax reduction, Roth IRA conversions, saving and spending strategies, optimized Social Security strategies, and gifting plans. Although we bring our knowledge and expertise in estate planning to our recommendations, all recommendations are offered in our capacity as CPAs. We will, however, potentially make recommendations that clients could have a licensed estate attorney implement. Asset location, asset allocation, and low-cost enhanced index funds are provided by the investment firms with whom Lange Financial Group, LLC is affiliated. This would be offered in our role as an investment advisor representative and not as an attorney
.
Lange Financial Group, LLC, is a registered investment advisory firm registered with the Commonwealth of Pennsylvania Department of Banking, Harrisburg, PA. In addition, the firm is registered as a registered investment advisory firm in the states of AZ, FL, NY, OH, TX, and VA. Lange Financial Group, LLC may not provide investment advisory services to any residents of states in which the firm does not maintain an investment advisory registration. Past performance is no guarantee of future results. All investing involves risk, including the potential for loss of principal. There is no guarantee that any strategy will be successful. Indexes are not available for direct investment. If you qualify for a free consultation with Jim and attend a meeting, there are two services he and his firms have the potential to offer you. Lange Accounting Group, LLC could offer a one-time fee-for-service Financial Masterplan. Under the auspices of Lange Financial Group, LLC, you could potentially enter into an assets-under-management arrangement with one of Lange’s joint venture partners.
Please note that if you engage Lange Accounting Group, LLC and/or Lange Financial Group, LLC for either our Financial Masterplan service or our assets-under-management arrangement, there is no attorney/client relationship in this advisory context. Although Jim will bring his knowledge and expertise in estate planning to this workshop and to the meetings, it will be conducted in his capacity as a financial planning professional and not as an attorney. This is not a solicitation for legal services.