OAK BROOK, Ill., Aug. 24, 2020 /PRNewswire/ -- More than 44 million Americans over age 65 are facing stiff challenges to retire and stay retired. One in five are still working, some by necessity.
"Retire Abundantly," a new book co-authored by Mike Perna offers managers, executives business owners and woman in transition wisdom, advice and principles on how to reduce income taxes and estate taxes to create a greater lifestyle and legacy.
Mike shares, "Accumulating enough money to retire is the first challenge. Keeping your money through retirement is a very different challenge. Many don't understand that the principles to successfully preserve, protect and pass on wealth are different than the principles to save the money."
The new book educates and equips retirees against the little-known mistakes and costly missteps that can derail their lifestyle in retirement.
Perna continues, "Managers, executives, business owners or woman in transition, who have successfully saved for retirement, face a different set of obstacles than the average person. As a result of widely held myths about wealth, many are making some costly mistakes and are not even aware of it."
For example, Perna says, running afoul of IRS retirement account rules can cost a bundle. The Wall Street Journal reported that, "Uncle Sam is about to get a lot tougher on individual retirement account mistakes—and that could trip up investors who aren't careful." The IRS levied over half a billion dollars in fines in just a two-year period for missed retirement plan withdrawals and contributions that break the rules.
The easy-to-read book is not laden with technical jargon. It begins by exposing how and why the retirement planning industry has left some retirees adrift, along the myths that many have been led to believe. It also details the three major retirement mistakes that many are making.
A very helpful section follows detailing twelve of the biggest retirement obstacles.
The book concludes outlining the solutions, including an enlightening case study that illustrates the concepts detailed in the book. Another interesting and informative feature of the book are a set of real-life stories of failure and success sprinkled throughout.
The book ends by showing readers how to take the next step in their own retirement lifestyle and wealth planning.
"In my first book, "The Comfortable Retirement," I outline the core retirement strategies. In "Retire Abundantly," I show you how to take your retirement to the next level. It's my desire to get this book into the hands of everyone who has worked hard and saved well, so they can retire abundantly and successfully preserve, protect and pass on their hard-earned wealth to their family," shares Perna.
About Mike Perna:
Mike Perna is a recognized Financial Educator, Author, Speaker and Retirement Specialist, who is the Author of "The Comfortable Retirement." As the Founder and President of First Choice Financial Services, LLC, Mike and his team help managers, executives, business owners and woman in transition enjoy a secure lifestyle and preserve, protect and pass on a lasting legacy. He is a warm and gifted communicator who has a passion for helping hard working people keep more of what they have worked a lifetime to save.
View original content:http://www.prnewswire.com/news-releases/one-of-illinois-top-retirement-specialists-mike-perna-co-authors-new-book-to-help-retirees-cut-taxes-and-avoid-retirement-mistakes-301116674.html
SOURCE Mike Perna