Creating Your Own Retirement Plan: A Guide to Keoghs & IRAs for the Self-Employed, Second Edition

People who work for themselves often neglect to plan for their retirement. Yet failing to stash away money is like ignoring your taxes or keeping poor records -- it's financial roulette!

Fortunately, it's not difficult to establish a nest egg. Nolo's new book, Creating Your Own Retirement Plan, provides the straightforward information you need to select, establish and operate a retirement plan. It covers:

*simple IRAs

*SEP IRAs

*traditional IRAs

*Roth IRAs

*profit-sharing plans

*defined benefit plans

*401(k) plans

In plain English, the book explains how to select the best plan, set it up, make contributions, administer the plan, and then -- finally -- receive distributions. The latest edition is completely revised to reflect the massive changes wrought by the 2001 Tax Law, which altered many of the rules and regulations governing retirement plans.

Customer Reviews:

Don't read this book if you have any employees

By A Customer - April 25, 2002

I have used Nolo Press books in the past and found them extremely helpful, detailed and precise. So, I was excited to find this title which sounded like it was exactly what I was looking for. And it is just as good as any of the other Nolo Press titles I have seen, so I was very disappointed to find this statement on page 2 of the introduction..."If you have any non-owner employers in your business, this book is not for you." It would have been more helpful if the sample pages had included the introduction, which clearly lays out the intended audience and use of this book. That said, I recommend this to other self-employed people because every option is clearly laid out for your consideration, along with good instructions for taking action on your decisions. It could be called "Retirement Plans for Not-So-Dummies."

Good Overview of Retirement Plans for the Self-Employed

By Ibochild - November 11, 2006

This and Twila Slesnick's earlier book "IRAs and Keoghs for the Self-Employed" are the only books that I've found that deal specifically with setting up a retirement plan for sole proprietors. Most books deal with them from the perspective of employees. I found the earlier book to be woefully out of date, because it doesn't address changes that make it easier for business owners to set up their own 401k plan.

In this book, the authors do provide detailed information on 401k plans. In fact, the book devotes a chapter to each type of retirement plan for business. It also includes comparisons for each type of plan to make it easier to decide with one is best for you.

This is highly recommended for sole proprietors that want to set up their own retirement plan. I found it particularly helpful in demystifying how 401k plans work. However, because the book was published in 2002, it doesn't address current changes in the law that will allow after tax contriburtions... read more

Clear text makes things easy to understand...

By Tracy Foote "College Savings Plan Author, Pho... - February 26, 2008

This book has a distinct chapter for each type of retirement plan for the self-employed. It is written in a style that is very easy to understand compared to reading an IRS publication. The book also compares different scenarios so you can see what would be different. It gives examples such as if you are both self-employed and have a retirement plan through your full time day job, can you have a SEP and an IRA, can you have two SEPs, what if you have two self-employed businesses, and more.

While the first chapter explains this book is not for the self-employed with employees, there is a short section in the chapters reminding you of a "heads-up" as to things that might be different if you have employees.

I am not sure there is new information that would not be included in the IRS related publications but as I mentioned, this book may be something to read first as the language is more simplistic and ideas are explained using more than one sentence (which is often... read more