Tag: IRA

Unpacking The Complexities of Roth IRAs With Chris Ruffino (Ep. 116)

Unpacking The Complexities of Roth IRAs With Chris Ruffino (Ep. 116)

There have been recent changes in tax laws for Roth accounts. 

Ready to go over them?

In this episode, Chris Ruffino and Michael Parise go into the basics of Roth accounts and the recent changes in tax laws. 

Chris explains the difference between traditional IRAs, and Roth IRAs while introducing the concepts of a ‘backdoor’ Roth IRA and a ‘garage door’ Roth IRA. He also navigates the impact of the Secure Act on Roth IRAs and the potential benefits of Roth conversions in terms of estate planning.

Michael and Chris discuss:

  • The difference between traditional IRAs and Roth IRAs
  • The benefit of not having required minimum distributions from a Roth IRA accounts
  • Backdoor and garage door Roth IRAs and how they work
  • How the Secure Act has impacted Roth IRAs
  • And more!

Resources:

Connect with Chris Ruffino:

Connect with John and Michael Parise:

About Our Guest: 

Chris Ruffino brings over two decades of financial expertise and a personalized, holistic approach to financial planning. Chris values family, long-term client relationships, and educating clients for generational impact. Starting at Merrill Lynch in 2003, Chris honed his client-centric approach at Lockwood Advisors and Legg Mason, emphasizing aligned interests and disciplined investing. His insights promise valuable takeaways for anyone looking to improve their financial future.

Episode 27 – Options to Reduce Your Taxes for Your IRA — With Mary Read, CPC, CPFA, QPA

Episode 27 – Options to Reduce Your Taxes for Your IRA — With Mary Read, CPC, CPFA, QPA

Let’s face it — saving money in taxes is always going to be a major goal of financial planning. 

In this episode, John and Michael Parise discuss tax-saving measures you can take with your IRA, with special guest Mary Read, CPC, CPFA, QPA, and national director of pension and protection planning at Pentegra Retirement Services and partner at M and R Business Development Group.

In this episode, you will learn:

  • The impact of the SECURE Act on the rules of tax savings in IRAs
  • The differences between treatments for different assets
  • How to use access benefits through life insurance and qualified plans
  • Why you may want to consider giving your beneficiaries ownership of your benefits
  • How these changes are a game-changer for high net-worth families
  • And more!

Tune in to learn about your options to reduce taxes for your IRA. 

Resources  Copper Beech Financial Group | Pentegra Retirement Plan Services