The Motley Fool: Seminar

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Updated: 1/1/2000 11:00 AM					Sponsored by:
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Lesson 1
Retire When You Want

Lesson 2
Running the Numbers

Lesson 3
Sources of Income

Lesson 4
Investing Now

Lesson 5
Investing Now and Later

Lesson 6
What To Do? Where To Live?

Lesson 7
Medical and Other Insurance

Lesson 8
What It Will Really Cost

Lesson 9
Tax Attack


		Avoiding Tax Potholes

		General Rule

		Before Age 59 ½ - SEPP

		SEPP Issues

		59 ½ - 70 ½

		Age 70 ½

		Where To Get Help

		Lesson Summary

		Homework

		Quiz

Lesson 10
Making Your Money Last

Lesson 11
Your Heirs, Your Disasters

Lesson 12
Plan Review

Lesson 9: Tax Attack
Homework

Format for printing

Part 1: Quiz!

Take a quick quiz to see how much you know about the tax attack and then take your newfound tax knowledge and put it through your own test.

Part 2: How will you be taxed?

For retirement planning purposes, determine how you may or should take distributions from your employer-provided retirement plans. If you will retire at an age younger than 59�, determine your need for SEPP from your traditional IRA, and whether you should maintain more than one IRA to provide yourself with greater SEPP flexibility. You will need to consult your employer's benefits administrator to answer a lot of these questions, but in the meantime you can:

Mark a date on your calendar in which you'll make an appointment to get all of the needed info, and
Head to your workbook to outline the questions you'll ask your plan administrator.

Extra Tips
This lesson has emphasized that taking money from a retirement plan or an IRA prior to a specific age may result in a 10% early withdrawal penalty. The penalty can be avoided for traditional IRAs by using one of the three IRS-approved methods for "substantially equal periodic payments" (SEPP). However, once SEPP start they must continue for the longer of five years or until you reach age 59�. Think about and discuss the circumstances (if any) under which it may be preferable to avoid SEPP and instead pay an early withdrawal penalty of 10% in addition to ordinary income taxes on the Retirement Realities board.

Part 3: Go in-depth
You'll find these resources listed on the seminar resource sheet, but use the following Lesson Resources to take a closer look at some of tax issues you'll find in retirement.