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Mullooly Asset Management, Inc

Mullooly Asset Management

Fiduciary Fee-Only Financial Planner | Investment Advisor in Wall, NJ

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Understanding the Roth IRA Video

April 22, 2013 by Thomas Mullooly

 

What do you know about Roth IRA’s? Many investors don’t understand traditional or Roth IRA’s. What they can offer you? Tom and Brendan will explain that and more in this educational video. They start by describing traditional IRA’s, before building into their eventual topic of Roth IRA’s. The end goal of both Roth and traditional IRA’s is the same, to help solidify your future through sound financial planning. There are some differences between the two that you need to understand though.

Traditional IRA’s worked as a great option for investors through most of the 1980’s. Then the threshold to be able to make a deductible contribution was lowered, making them less favorable. Roth IRA’s didn’t come around until 1997, but the best part about them is that anybody is able to contribute. Tom and Brendan discuss the Income Contributions Levels in this video. Depending on your status (single filer or joint filer), you might qualify for the ability to make full contributions to your IRA or partial contributions. Even if you make more than the Income Contributions Levels for 2013, you can still invest your money in a Roth IRA. Back-door Roth IRA’s are a very real option for investors. Tom goes over how these can be done in the video. Investors normally have questions about the distributions from Roth IRA’s, and whether they are taxable. Tom covers that in this week’s video as well.

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Filed Under: Financial Planning, Videos Tagged With: Financial Planner

About Thomas Mullooly

Thomas Mullooly is owner and founder of Mullooly Asset Management, Inc. In 2002 Tom opened Mullooly Asset Management, a fee-only investment advisory firm. As an investment advisor, and not a broker, Tom works strictly for his clients. With the help of point and figure charting, Tom builds a realistic game plan for clients.

1971 State Route 34, Suite 102
Wall Township, NJ 07719

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The information on this website and blog do not involve the rendering of personalized investment advice. A professional advisor should be consulted before implementing any of the options presented. None of the content contained in this website should be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.

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