Monday, June 21. 2010Are Roth IRA's Right for You? When Congress created the Roth IRA, millions of Americans who already had traditional IRAs faced a new decision: “Should I convert to a Roth IRA?” Traditional IRAs feature deductible contributions, and withdrawals are taxed as income. Roth IRA contributions, on the other hand, are not tax deductible, although qualified withdrawals of both contributions and earnings from a Roth IRA are free of federal income tax. One issue to consider is that if you convert your traditional IRA to a Roth IRA, you will owe current federal income tax on the amount you convert. Ask yourself these questions: 1. What is your current age? 2. What is the current balance of your IRA? 3. What pre-tax return do you expect on your IRA investments (0 to 12 percent)? 4. What marginal tax bracket do you expect to be in during your working years? 5. At what age do you expect to begin withdrawing funds from your IRA? (Enter a number between 60 and 70, but at least five years from your current age.) 6. What pre-tax return do you expect on your investments once withdrawals begin (0 to 12 percent)? 7. What marginal tax bracket do you expect to be in during your retirement years? And by using the Roth IRA Calculator you'll find out how much you will save. Monday, June 21. 2010Don Purcell CPA A graduate of Drake University, Don has over 20 years of experience in the financial services industry. He has received numerous honors throughout his career, including MONY's New Associate of the Year, Top 50 and Hall of Fame honors. Additionally, Don is a qualifying member of the Million Dollar Round Table (MDRT), an international association of leading financial professionals, recognized as the standard of excellence in the life insurance-based financial services industry. Don is a five-year member and one in Top of The Table, which represents the top of all MDRT members. Committed to professional education as a means to better serve and educate clients, Don earned the Certified Public Accountant designation in 1982. More recently in 2006, Don earned the Personal Financial Specialist designation, one of only a few specialty designations recognized by the American Institute of Certified Public Accountants. Don is also a frequent student at the Advest Institute, a semi-annual gathering on the campus of Harvard University where select financial professionals hear from some of the best economic minds in the country. Active in the industry, Don is a member of the American Institute of Certified Public Accountants, the Florida Institute of Certified Public Accountants and the National Association of Insurance and Financial Advisors, Central Florida chapter. Don is also active in community organizations, and, in the past, has been honored with the Presidential Award of Appreciation from the Orlando Jaycees for his community involvement. He is a former member of the board of directors for the Oviedo Chamber of Commerce and the Maitland Chamber of Commerce. This experience and education was recognized by the local business community when Don was interviewed for an article that appeared (with photograph) in the October 18, 2007 issue of the Orlando Business Journal. The primary source of new clients for Don are referrals from satisfied clients who have trust and confidence in his work. These referrals have led Don to become licensed and registered in various states. Don's commitment to excellence and dedication to integrity are your assurance of the highest standard of service. MISSION STATEMENT
EXPERIENCE, serving clients in multiple states for over 25 years in areas such as:
ORGANIZATIONS
EDUCATION
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