2.  A retirement expert and president of
Springfield, Missouri-based Mitchell and
Associates, Tracy Wayne Mitchell helps
retirees plan their income. In his leadership
role, he created a marketing program for
financial services called LeadQuest.
Complementing his commitment to Mitchell
and Associates, Tracy Wayne Mitchell heads
Federal Employee Benefit Advisors, a
company that provides financial counseling
for federal employees.

3.  Traditional individual retirement accounts
(IRAs) permit people saving for retirement to
defer taxes on their funds until they begin to
withdraw money from their IRAs. Retirees
with IRAs usually save money because, once
retired, they occupy a tax bracket that takes
a smaller percentage of their income.

4.  The United States Internal Revenue Service
regulates IRA products through special rules.
One rule dictates that retirees must start
disbursing funds from their IRA accounts at
70 1/2 years of age. Additionally, if IRA
account funds are drawn before a person
reaches 59 1/2 years of age, the IRS will
charge a 10 percent penalty to the account.