Chrome CSS Drop Down Menu

Call Us
(877) 656 9111

Laser Financial Group Samuel N. Asare
Books and Reports Videos Articles Press Releases Media Room
FAQs Ask Us Your Question
CPE Credit Media Kit Important Links Code of Ethics Privacy Policy
Articles

Roth IRAs Still Have Strings Attached: There’s a Better Option for Accessing Your Retirement Income, Tax-Free!

by Samuel N. Asare

Strings

Americans were introduced to the Roth IRA under the Taxpayer Relief Act of 1997 with much admiration. A similar reception greeted the 2001 Economic Growth and Tax Relief Reconciliation Act, which expanded contribution limits and also introduced the Roth 401(k) option, which would later become permanent under the Pension Protection Act of 2006.

As far as tax treatment goes, we agree that these Roth options are a step in the right direction in that they allow “nonqualified” contributions and tax-free withdrawals (when certain conditions are met). In fact, most real-life retirees generally tend to have few to no tax deductions and exemptions.

However, both Roth options – IRAs and 401(k)s – still have too many government strings attached. These show up in the form of:

  • Contribution limits
  • When the gains and/or principal may and may not be accessed
  • Forced distributions beginning at age 70½ (401k)

Why would anyone bother with a Roth account when, under current tax laws, similar non-qualified options would provide tax-free accumulation and access without all the strings?

Regardless of your income, you can basically set your own contribution limit by building your plan according to your funds. You may access your money before age 59½, tax-free, including all gains, without IRS penalties and without obligation to repay. Additionally, funds from these accounts do not impact the computation of your “provisional income,” hence they do not affect the taxation of your Social Security benefits in any way. There are absolutely no “required minimum distribution” rules to comply with once you hit age 70½. And upon death, any remaining funds can be transferred to your named heirs, income-tax free. 

You may be wondering why you have not been made aware of such an option until now – just like most of the people we meet. The late Chief Judge Learned Hand of the U.S. Court of Appeals, Second Circuit, once said, “There are two systems of taxation in our country: One for the informed and one for the uninformed.” Sadly, many so-called financial advisors seem to work inside of boxes with closed little minds, while the solutions that many Americans seek and desire lie outside of those boxes.

Laser Financial Group has helped many people just like you restructure their financial affairs and put themselves in the driver’s seat, instead of Uncle Sam. We can do the same for you and your family. Please call (877) 656-9111 or visit www.LaserFG now to schedule your complimentary consultation.


1 2 3 4

Laser Financial Group LC BBB Business Review

Call Us
(877) 656 9111

Linkedin twitter facebook Youtube

Home | Our Solutions | Blog | Presentations | Consultation | Your Questions | Books & Reports | Videos | Laser Financial Group | Samuel N. Asare | Media Kit | Articles | Press Releases | CPE Credits | Media Room | Important Links | Code of Ethics | Privacy Policy | Contact Us

This website is for informational purposes only. All opinions expressed are solely those of Laser Financial Group, LC., and our editorial staff. The information is not to be construed as any form of professional advice, nor as solicitation for the purchase or sale of any security, whatsoever. No particular outcome is guaranteed. No strategy can guarantee a profit, protect against loses, or ensure peace of mind. Recommendations are based solely on third party insurance products for which we receive compensation. Laser Financial Group, LC, does not provide investment advisory services. This does not constitute an offer to provide services in any jurisdiction in which such offer or solicitation would be unlawful under the laws of such jurisdiction. Any United States tax reference on this website is not intended to be used, and cannot be used for the purpose of avoiding penalties under the Internal Revenue Code, or promoting or recommending to another party anything addressed herein.

All Rights Reserved - Laser Financial Group, LC. 2008 - 2018

website by transNETMedia.com