JAMES LANGE PRESENTS:
How Professors Can Protect Themselves and Their Families from Massive Taxation on Their TIAA, IRAs, and Other Retirement Plans
Navigating the world of retirement planning can be difficult for everyone, but for those who spend their careers in academia it presents unique challenges.
We’ve spent decades unpacking the complexities of faculty-specific financial planning topics with and for our 632 professor clients.
Most college professors eventually end up with significant assets in their TIAA, IRAs, and other retirement plan accounts, and IRAs and retirement plans have specialized distribution rules both while you are alive and after you are gone. Understanding these rules is critical for effective planning.
In addition, traditional TIAA investments have their own unique set of distribution rules. For TIAA participants, it is imperative to understand those rules, and develop an optimal distribution plan for your TIAA as well as your CREF, IRA, and other retirement plan assets.
This session will cover our strategic recommendations for what you should be doing while you’re working and at retirement, though the emphasis will be on those retiring within the next several years or already retired.
Here's an overview of what we'll cover:
• The financial impact the SECURE Act could have on your family and your legacy if you do not take action.
• Our long-term strategic planning recommendations for professors in the post-SECURE Act era. Includes: how to provide financial security for your surviving spouse, and potentially save hundreds of thousands of dollars for your children.
• Gifting strategies for maximizing IRA and retirement plan wealth after the SECURE Act. We’ll also examine different forms of gifting and when to gift.
• A quantitative analysis of the value of combining multiple long-term financial planning strategies. Also, the math behind some of our favorite strategies and why they work.
• How professors with $1 million or more in retirement plans should understand and respond to the sunset provisions in the Tax Cuts and Jobs Act of 2017.
• The solution to one great mystery of life: What is the most advantageous way to get your money out of TIAA and CREF when you retire?
• Distribution options available at retirement for TIAA, and what, if anything, you should do about it now.
• Which assets you should spend first and which assets you should spend last during retirement. Note: the answer has changed since the SECURE Act.
Please note we will not be covering Roth IRA conversions and Social Security strategy in this session because we dedicate the entire next session to those two topics.
You too can learn our practical strategic solutions to the disastrous consequences of the SECURE Act’s accelerated taxation formula…solutions that hundreds of our clients have already implemented to defend their wealth and their financial legacies.
Register today to learn about some of our favorite strategic defenses, get the numbers behind them, and see why they work for so many professors like you.
Jim Lange, your host is a CPA, attorney and a Registered Investment Advisor whose tax and estate planning strategies have been endorsed by The Wall Street Journal (36 times). He’s written 8 best-selling books including Retire Secure!, which received praise from many of the country’s top financial experts including Charles Schwab, Larry King, Jane Bryant Quinn, and Roger Ibbotson. And his forthcoming book, Retire Secure for Professors: Maximizing and Protecting Your TIAA, IRAs, and Other Retirement Assets, was written specifically for university faculty like you.