In a new book, Retire Secure for Professors and TIAA Participants, with a foreword by Burton Malkiel, Professor Emeritus, Princeton University, James Lange, a Pittsburgh-based CPA/attorney/registered investment advisor, reveals proven, tax-savvy retirement strategies that work for university faculty and TIAA participants. Although Lange has written 9 previous financial books, he says, "Retire Secure for Professors and TIAA Participants is his magnum opus because it contains the best and updated advice from all his previous books." He adds, "while there are many books on retirement planning, Retire Secure for Professors and TIAA Participants is virtually the only comprehensive and current retirement book with specific advice for TIAA account holders." What's more, Retire Secure for Professors and TIAA Participants is useful not only for university faculty and TIAA participants but according to Lange, 90 percent of the advice is also applicable for most owners of IRAs and retirement accounts other than TIAA. "In 2022, notes Lange, 88 percent of U.S. citizens who were age 60 or older had some type of retirement savings, whether it was an IRA, 401(k), 403(b), or other retirement plan." Call 1-800-387-1129 to request a free review copy of Retire Secure for Professors and TIAA Participants.
PITTSBURGH, Oct. 2, 2023 /PRNewswire-PRWeb/ -- Call 1-800-387-1129 to request a free review copy of Retire Secure for Professors and TIAA Participants.
In a new book, Retire Secure for Professors and TIAA Participants, with a foreword by Burton Malkiel, Professor Emeritus, Princeton University, James Lange, a Pittsburgh-based CPA/attorney/registered investment advisor, reveals proven, tax-savvy retirement strategies that work for university faculty and TIAA participants.
"TIAA has 4.7 million participants and over a trillion dollars in assets under management. Depending on definitions, there are anywhere between 200,000 and one-million professors," says Lange—a huge number of whom have their retirement funds with TIAA.
"This is why, says Lange, millions of people who are retired or are planning to retire need the financial planning and tax-reduction advice in his book."
In addition to professors, many other employees of non-profit organizations also have their retirement accounts with TIAA. These include workers in hospitals and other healthcare providers, churches and other religious organizations, museums, charities, food banks, shelters, and more.
Although Lange has written 9 previous financial books, he says, "Retire Secure for Professors and TIAA Participants is his magnum opus because it contains the best and updated advice from all his previous books." He adds, "while there are many books on retirement planning, Retire Secure for Professors and TIAA Participants is virtually the only comprehensive and current retirement book with specific advice for TIAA account holders."
What's more, Retire Secure for Professors and TIAA Participants is useful not only for university faculty and TIAA participants but according to Lange, 90 percent of the advice is also applicable for most owners of IRAs and retirement accounts other than TIAA. "In 2022, notes Lange, 88 percent of U.S. citizens who were age 60 or older had some type of retirement savings, whether it was an IRA, 401(k), 403(b), or other retirement plan."
Lange says, "Retire Secure for Professors and TIAA Participants is his most personal book because he comes from a family of academics: both his mother and his brother were university professors." So, it seems only natural that, as a CPA, attorney, and registered investment advisor, Mr. Lange has worked with more than 600 professors over the past 35 years.
"Many college professors don't have huge salaries, but they regularly contribute to their retirement plans that usually have a generous employer contribution match," says Lange. "As a result, professors are often surprised when they retire, after decades in academia, that they have in fact amassed a million dollars or often much more in their retirement accounts."
"Yet many retired professors, as intelligent as they are and as well-educated in their specialty, make terrible decisions regarding their TIAA-CREF—which is often their primary retirement account—when they quit working," he says.
"I believe a significant factor in professors having challenges managing their money is that professors don't seek reliable financial information when they need it," he observes—and finds somewhat ironic.
"Professors insist that their students engage in critical thinking based on reading qualified experts, preferably peer-reviewed authors," says Lange. "I wrote Retire Secure for Professors and TIAA Participants so faculty and other TIAA participants can do the same diligent reading and study they ask of their students."
"Like so many other IRA and retirement plan owners of all types, these professors often don't have sufficient understanding of Roth IRAs, Roth 403(b)s, and Roth conversions to optimize the benefits of their TIAA, IRAs, and other retirement plans. Their estate plans are often in need of massive restructuring."
The core information of what many professors and TIAA participants should be doing is in Lange's comprehensive 470-page book; a detailed Table of Contents makes it quick and easy for his readers to find the information and advice they are looking for.
Lange urges every professor and TIAA participant to gain some financial education so he or she can make the best decisions for themselves and their family at retirement, especially with their TIAA as well as other 403(b)s, IRAs, and other retirement plans―which may have grown to 7 figures.
"The great mystery of how professors should access their TIAA and CREF accounts at retirement is complicated," says Lange. "You want to optimize your strategy, which usually involves minimizing taxes for both you and your heirs."
"To complicate life even further, traditional TIAA accounts usually have their own set of distribution rules that vary not only among non-profit organizations but even different contracts within the same organization. These TIAA distribution rules must be considered to devise the best plan for retired TIAA participants," adds Lange.
Lange points out that the knowledge gained by reading Retire Secure for Professors and TIAA Participants could potentially save some families hundreds of thousands of dollars.
For instance, on page 270, he explains how your heirs may be able to slash taxes in a novel way: by making an Inherited 403(b) or Inherited 401(k) Roth conversion after you die—something they cannot do with an Inherited IRA. "This strategy works especially well if you are in a higher tax bracket than your heirs," he says.
To get your copy of Retire Secure for Professors and TIAA Participants, you can order the book on Amazon now.
Media Contact
Erika Hubbard, Lange Accounting Group, LLC, 1 4125212732 224, [email protected], faculty-advisor.com
SOURCE Lange Accounting Group, LLC
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