James Lange | Source | President at Lange Financial Group, LLC

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James Lange

President at Lange Financial Group, LLC
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James Lange is a CPA and an attorney. He is also a nationally recognized tax strategist, Social Security, IRA, 401(k) and retirement plan distribution expert.

His latest book, "The IRA and Retirement Plan Owner’s Guide to Beating the New Death Tax: 6 Proven Strategies to Protect Your Family From the SECURE Act" will be available on Amazon in August 2020.

The first edition of Jim’s book, Retire Secure! Pay Taxes Later – The Key to Making Your Money Last as Long as You Do (Wiley 2006) became a #1 best-seller on amazon.com and received over 60 glowing testimonials. Larry King called Retire Secure! “One of the best books about saving taxes I’ve ever read. It works.” Charles Schwab said, “A road map for tax-efficient retirement and estate planning.”

The 2nd edition of Retire Secure! was released in February 2009 and included updated material to reflect recent tax law changes. Discover new strategies involving inherited 401(k)s and IRAs, Roth IRA strategies for 2010, the importance of making sure that your estate plan considers the rising Federal Tax Exemption and the benefits of using life insurance for charities.

Jim has published articles in many of the nation’s top financial, legal and tax journals and magazines, including the Journal of Retirement Planning, Financial Planning and The Tax Adviser (AICPA). Beyond his own work, Jim’s recommendations have appeared twenty-nine times in The Wall Street Journal, twenty-three times in The Pittsburgh Post-Gazette, The New York Times, Kiplinger’s Retirement Report (the most recent quote was in August 2008,) Money Magazine and Smart Money. Jane Bryant Quinn introduced the country to Jim’s mantra, “Pay taxes later,” in Newsweek.

Jim speaks extensively both locally and nationally and has become an “advisor to the advisors” concerning Roth IRAs, Roth IRA conversions and Jim’s estate plan – “Lange’s Cascading Beneficiary Plan.”

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  • Many readers assume the best reason for doing Roth IRA conversions is that it will benefit their heirs. Now, as a result of the drop in the stock market due to COVID-19, many readers are more interested in just making sure they and their spouses are OK. So, they are questioning whether they should do Roth IRA conversions and hold off on applying for Social Security benefits. In one scenario I ran, we found that optimizing Roth IRA conversions and Social Security strategies versus collecting Social Security at age 62 and not doing any Roth IRA conversions would result in a difference of over $2,000,000 for this family. Hopefully some readers will begin to think differently about their financial strategy. That is the advantage of having skeptical IRA owners who are data driven.

  • Effective January 1, 2020, we have a radically different law governing Inherited IRAs and retirement plans than we had in the past. The stock market seems particularly jittery and that may continue for a long time. Your own finances and family situation could change significantly between the time you draft your wills, trusts and beneficiary designations and the time of your and/or your spouse’s death.

    The elephant in the room of estate planning is uncertainty, and many traditional estate plans take a fixed in stone approach that does not account for changing circumstances. Most married IRA owners have “I love you” wills. They typically name their surviving spouse as the primary beneficiary, and then their children equally as the contingent beneficiaries. They name trusts for the grandchildren of predeceased children. Usually, the children don’t get any money until both the husband and wife die, and the grandchildren don’t get anything unless their parent died also.

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