Phil Cannella explains key features
Phil Cannella – Phillip Cannella News: Phil Cannella explains some of the key features and benefits of a Roth IRA over a traditional IRA. As you can imagine, Phil Cannella takes a very tailored approach to every retirees nest eggs and a key aspect of it is assessing whether or not the given client’s IRA should remain as a traditional IRA or be converted to a Roth.
Phil Cannella and Roth IRA
This is what Phil Cannella says about the Roth IRA, “The IRS provides you with a powerful antibiotic that’ll cure your tax infested retirement accounts of the disease called ‘paying too many taxes’ and of the illness called ‘outliving your nest egg.’ The antidote comes in the form of an IRS law — the Roth conversion — which allows you to convert any IRA you own into a financial instrument that will grow tax-free.”
Phil Cannella looks at the IRAS in a very logical fashion. What you need to know is that to transform a tax-deferred account into a tax-free one, all you have to do is pay the taxes that are due at the time of the conversion. After that, the balance can grow tax-free for as long as you hold the account.
This is a great benefit of the Roth IRA according to Phil Cannella and one that we should all consider when doing our retirement planning.
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