Phil Cannella Talks Tax Benefits of Roth IRA

Phil Cannella is a consummate professional when it comes to being a consumer advocate and retirement expert. Too many advisers who practice in the field have no more than a shallow understanding of the products they sell and certainly have little background in both traditional and Roth IRAs. In fact, most financial advisers don’t want to know much about Roth IRAs because it hurts their own bottom line. Most financial advisers get paid based on the value of their accounts. Thus if you convert your IRA holdings to a Roth IRA the dollar value of your account is smaller because you’ve paid taxes on it. What Phil Cannella insists on is looking at whatever options are in the best interest of the consumer rather than in the best interest of the financial adviser. By taking the IRS taxes out of your account, you are no longer subject to required minimum distributions and more importantly, if tax rates go up you have removed the unknown element from your portfolio.

Ed Slott is one of the country’s foremost IRA experts in the world and has trained Phil Cannella as a Master IRA Adviser. To this day Phil continues to offer advice to his clients on IRAs and Roth IRAs to help them realize their financial goals in retirement. Being a financial and retirement professional Phil Cannella has to maintain his own knowledge of investment vehicles and the laws affecting retirees, so that he can continue to offer the best possible advice to his clients.

Furthermore, Phil Cannella has insisted that his team of “consumer defenders,” who are involved in designing the proprietary Crash Proof Retirement System for each consumer, is trained in IRA laws and regulations. Phil Cannella has personally provided much of that instruction, being one of the leading lights in the industry when it comes to understanding retirement accounts.