This January marks the 20th anniversary of the Roth IRA. First made available to American investors in January of 1998, a Roth IRA is an individual retirement account that is funded with after-tax dollars and provides tax-free growth and income for retirement. In honor of this significant milestone, Bryan Sweet and his team at Sweet Financial Services is spreading the word about the benefits of this retirement savings vehicle.
“The 20th anniversary of the Roth IRA serves as a good reminder to examine why this type of retirement account might be right for you,” said Sweet. “There are several benefits that come with a Roth IRA, including tax-free growth and distributions in retirement. Someone who may have saved a million dollars in their traditional IRA may only see half of that amount after they pay income taxes. The beauty of the Roth IRA is that it allows you to contribute after-tax dollars, which can help you avoid a tax time bomb in retirement.”
“I am a big proponent of Roth IRAs, as contributions today lead to tax-free money in retirement, when you need it most,” said Ed Slott, CPA, founder of Ed Slott and Company and a nationally-recognized IRA expert who was named “The Best Source for IRA Advice” by The Wall Street Journal. “Unfortunately, the rules surrounding these retirement accounts are as confusing as ever, so it is important to work with someone who specializes in them.”
Bryan Sweet, Founder, CEO and wealth Advisor, and Oliver Kollofski, Director of Wealth Services for Sweet Financial, are members of Ed Slott’s Elite IRA Advisor Group℠, an exclusive membership group dedicated to the mastery of advanced retirement account and tax planning laws and strategies. Members of Ed Slott’s Elite IRA Advisor GroupSM attend semiannual live training events and have year-round access to Ed Slott and Company’s team of retirement experts for consultation on advanced planning topics.
To determine whether a Roth conversion is right for you, it may be beneficial to work with a financial professional who receives specialized training in the ‘second half’ of the retirement game, the distribution phase. “As a member of Ed Slott’s Elite IRA Advisor GroupSM, I take pride in knowing that I am up to speed on the latest retirement strategies and able to provide my clients with the help they need to plan for a successful retirement,” said Sweet.
“Over the last 20 years, a lot has changed for Roth IRAs,” said Slott. “With ever-changing laws, including Congress’s recent decision to eliminate Roth recharacterizations, it is more important than ever for financial professionals to receive ongoing training. I commend Bryan and Oliver for prioritizing their education and taking the necessary steps to understand the intricacies of retirement accounts and the tax laws that impact them.”
ABOUT ED SLOTT AND COMPANY, LLC: Ed Slott and Company, LLC is the nation’s leading provider of technical IRA education for financial advisors, CPAs and attorneys. Ed Slott’s Elite IRA Advisor GroupSM is comprised of nearly 400 of the nation’s top financial professionals who are dedicated to the mastery of advanced retirement account and tax planning laws and strategies. Slott is a nationally-recognized IRA distribution expert, bestselling author and professional speaker. He has hosted several public television specials, including his latest, “Retire Safe & Secure! With Ed Slott.” Visit www.irahelp.com for more information.
About Sweet Financial Services: Founded in 1987 by Bryan J. Sweet, Bryan and his Sweet Financial Services team’s goal isn’t just to help manage your investments – it’s to inspire you to pursue your version of a confident retirement. Because to our family of advisors, you’re more than a client; you’re the sole architect of your dreams.
That’s why we’ve developed the Dream Architect: Our strategic planning process that can help prioritize what is truly important to your future and then offer a blueprint to take action. It’s your dream, we’ll help you get there.
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The registered office address and phone number and the following disclaimers: Securities offered
through Raymond James Financial Services, Inc. Member FINRA/SIPC. Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Sweet Financial Services is not a registered broker/dealer and is independent of Raymond James Financial Services.
Raymond James is not affiliated with and does not endorse the opinions or services of Ed Slott, Ed Slott’s Elite IRA Advisor Group and/or Dream Architect.
The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of the advisors at Sweet Financial Services and not necessarily those of Raymond James. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. This information is not intended as a solicitation or an offer to buy or sell any security referred to herein. Investments mentioned may not be suitable for all investors. Roth IRA owners must be 59½ or older and have held the IRA for five years before tax-free withdrawals are permitted. Like Traditional IRAs, contribution limits apply to Roth IRAs. In addition, with a Roth IRA, your allowable contribution may be reduced or eliminated if your annual income exceeds certain limits. Contributions to a Roth IRA are never tax deductible, but if certain conditions are met, distributions will be completely income tax free. Earnings withdrawn prior to 59 1/2 would be subject to income taxes. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Every investor’s situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment. Prior to making an investment decision, please consult with your financial advisor about your individual situation. Please include: Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members.
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