Unpacking The Complexities of Roth IRAs With Chris Ruffino (Ep. 116)
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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:
- Taking the Plunge to Build Generational Wealth — the Next Phase of Copper Beech With Chris Ruffino (Ep. 112)
- The Generational Impact Of The Secure Act Part Two (Ep. 61)
- The Generational Impact Of The Secure Act — Part One (Ep. 60)
- Options To Reduce Your Taxes For Your IRA — With Mary Read (Ep. 27)
Connect with Chris Ruffino:
Connect with John and Michael Parise:
- 856-988-8300
- Copper Beech Financial Group
- LinkedIn: John Parise
- LinkedIn: Michael Parise
- LinkedIn: Copper Beech Financial Group, LLC
- Facebook: Copper Beech Financial Group, LLC
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.