Phil Cannella – Phillip Cannella News: Phil Cannella is no stranger to IRA regulations. In fact, it is quite the opposite, he is truly a master when it comes to understanding the regulations and ins and outs of IRA laws. This is why Phil Cannella is such a strong proponent of the Roth IRA which works quite differently from the Traditional IRA in that monies put into a Roth are after tax, and so the Roth grows tax-free, never requiring any taxes to be paid on the funds thereafter including the interest and gains.
Phil Cannella makes this point clear: “By now, the power and versatility of a Roth IRA should be crystal clear. This powerful tax-free account is a souped-up financial vehicle that delivers higher performance in a number of ways. It can decrease your tax burden. It can help you avoid forced RMD withdrawals in your retired years if you don’t need the money. And it can produce non-taxable income for you when you need it and can be stretched to your heirs. You can transfer this instrument and its tax-free holdings to the people you love, and if it’s managed properly, it has the potential to accumulate faster than your heirs withdraw from it.”