Tag: SECURE Act

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

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:

Connect with Chris Ruffino:

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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.

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64. The World of Private Placement Life Insurance With Edward Gordon

64. The World of Private Placement Life Insurance With Edward Gordon

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The potential of tax rates rising understandably has people concerned about their tax planning situations.

In this episode, John and Michael are joined by Edward Gordon of Preservation Capital Partners. Ed runs a tax efficient program for private placement life insurance, and he’s here to explain everything about the program. Ed shares a real life case study to help better illustrate how the program works.

Edward discusses:

  • How the strategy of a private placement life insurance policy helps combat the negative effects of the SECURE Act
  • The cost of the program and what Ed believes will happen with cash value life insurance, and growing tax rates
  • A real life case study to help better understand how the program works
  • And more

Connect with Edward Gordon

Connect with John and Michael:

About Our Guest: 

Edward W. Gordon, founder and guiding principal, has over 20 years of experience in the field of business and estate planning. Mr. Gordon is a graduate of the State University of New York with a major in Business Economics and Finance.  He holds the Series 6, Series 63, Life & Health License, and is a Certified Estate Planner.

 Mr. Gordon is an active member of The Study Group, an organization devoted to the promotion of ethics, education, and technical advances in the financial services sector.  He is also an active member of the American Society of Certified Estate Planners.  In addition, Edward Gordon is an active member of STEP, the Society of Trust and Estate Practitioners.  Mr. Gordon is a frequent panelist and speaker at industry events. He has authored several articles and a book covering estate planning and related topics.

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61. The Generational Impact Of The SECURE Act Part Two

61. The Generational Impact Of The SECURE Act Part Two

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A new provision in the SECURE Act requires children that inherit an IRA or a qualified plan to essentially withdraw those funds no later than 10 years after the date of death. How can you ensure that your child gains the most from their inheritance after you are gone?

In part two of this series, John and Michael Parise discuss possible solutions for this new provision to the SECURE Act. They reveal the various types of accounts you can utilize and share the importance of keeping future generations in mind.

You will learn:

  • How you can prepare for your children’s inheritance with the new provisions to the SECURE Act
  • What type of accounts and investments may be the best fit for you
  • The importance of taking future generations into account when creating your plan
  • And more!

Resources:

Connect with Copper Beech