Explain why early retirement planning might be necessary (pp. 617-618)

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The Answer is Anyone with a sizable retirement plan and/or IRA benefits should begin planning early in order to maximize the value of those benefits. The early planning strategy should strive to avoid penalty taxes and take advantage of beneficial tax treatments. In some cases, payment of current taxes using 10-year averaging or deferral of taxes on appreciation in employer stock may be appropriate. However, most individuals would achieve greater value by a tax-free rollover to another qualified plan or IRA, which would further defer taxation on the amounts rolled over and permit additional tax-deferred earnings.
The distribution of rollover IRA account balances can be planned to maximize the total value received by the individual, the individual's spouse, and their beneficiary. In general, this planning entails delaying the start of distributions and stretching them out as long as possible under the minimum distribution rules.

Explain Why Early Retirement Planning Might Be Necessary (Pp