Phil Cannella – Phillip Cannella Media: Phil Cannella is a well-trained Financial professional, versed in IRA regulations, IRS rules and understand the different types of financial vehicles that are available to retirees. He takes a good look at the advantages and disadvantages of tax-free growth versus tax-deferred growth in a retirement account.
As Phil Cannella explains: “A retirement financial specialist knows that there’s more than one way to bypass the RMD to stop the erosion and taxation of your accounts, and turn them into tax-free vehicles that remain tax-free even after you begin to take income from them. The IRS itself explains how to do it through a law it set forth over 12 years ago called a Roth conversion.”
That’s a pretty deep word “Roth” conversion and you wonder what that is. As Phil Cannella further explains: “Many people have heard of a Roth IRA. In financial terms, ‘Roth’ is a fancy word for tax-free (not a bad legacy for William Roth, the legislator who helped set it up).
There is much to understand about what a Roth Conversion is and it is deeply discussed in Phil Cannella’s book Crash Proof Retirement, The Planning Isn’t Over. In there Phil Cannella explains the differences and advantages each poses.