Ed Slott has a new book advertised "The New Retirement Savings Time Bomb". Has anyone in this group read it and knows what the so called "time bomb" is? He does not seem to be selling gold so it peaked my curiosity. Thanks for any info you can share, Paoli.
Answers
A sequel to his best-selling book, "The Retirement Savings Time Bomb… And How to Defuse It," originally published in 2003, this new book covers the latest events impacting tax code, from the Tax Cuts and Jobs Act to the SECURE Act to the CARES Act and breaks down how retirement savers need to plan differently since these laws were enacted.
https://www.prnewswire.com/news-releases/ed-slotts-the-new-retirement-savings-time-bomb-now-availabl...
The book may well contain some useful retirement planning info regarding taxes. But the title strikes me as a tactic to frighten people (and purchase the book).
Just kidding. As mentioned above, although the title may seem a bit melodramatic it does segue from his earlier 2003 book of similar name. For years Ed Slott's main claim-to-fame has been the so-called “stretch-IRA” (which is a real and not just a self-serving contribution), and as also stated above, Federal legislation has led to major restrictions in the ability to employ that tax-saving device for heirs to tax-deferred accounts. There are still ways to establish a stretch-IRA, but they are more limited than before, and that might imply at least a need to note the new rules and act in a timely sense, if not actually a “time-bomb”.