Phil Cannella, Joann Small and the team at Crash Proof Retirement don’t have to be CPAs, nor Tax Accountants to be your advocates and alert you of a little known law that could save you thousands of dollars throughout retirement, if this law is right for you.
In this report, Retirement Phase Expert Phil Cannella explains a law that has been limiting the tax bills of Everyday Americans for decades. If you haven’t heard of this law and it’s benefits, then it’s further proof you need to be working with a Retirement Phase Expert.
“People tell me their number one fear in retirement is running out of money. A close second is maintaining the same lifestyle as they did during their working years.
Now they are valid concerns since according to The U.S. Bureau of Labor Statistics, the average household of people 65 and over will spend nearly $50,000 a year in retirement. So what can you do to be prepared?
Many people are not aware of a little known law where you can convert your retirement accounts, such as a 401k or an IRA into a tax-free growing account, and how about you’d never have to take another Required Minimum Distribution Regardless of your age.
This is known as a Roth Conversion. Introduced in 1997 by Senator Roth, Roth IRAs allow a retirement account holder to pay the taxes due on the account today, which immediately converts that account to a #tax free growing retirement account.
That’s not all there is to a Roth Conversion. By converting to a Roth IRA you’re kicking IRS out of your account and you’re taking control of your retirement funds.
Now a Roth Conversion is simply transferring funds from your traditional retirement accounts, such as an IRA or a 401k into a Roth IRA, and by paying the current taxes due you now can reap the rewards of all the benefits of having a Roth Conversion.
Now a Roth Conversion is not for everybody. Always consult a retirement phase expert who has the specialized training in IRS tax laws to make you more efficient during your retirement years.”
To hear more reports that will impact your financial future, join Phil Cannella and Joann Small, Saturdays at 11 AM and most Sundays at 1 PM on Talk Radio 1210 WPHT, and online at https://crashproofretirement.com/radio-show/