Please note that Portnoff Financial has joined with Tempus Wealth Planning and some information here may no longer be applicable. Please contact Jeremy Portnoff at 949-226-8342 (CA) or 732-226-3113 (NJ) for additional information.  We apologize for any confusion while we are in transition. 

West Coast Phone: 949-226-8342
East Coast Phone: 732-226-3113


20th Anniversary of the Roth IRA

This January marks the 20th anniversary of the Roth IRA which became available to investors in 1998. A Roth IRA in an individual retirement account that accepts after-tax contributions and tax-free distributions (income) for retirement. To celebrate this Roth IRA anniversary, I'll be sending out a variety of Roth IRA info throughout the year. This 20th anniversary is a good reminder to take a look at the Roth IRA to see why it might be right for you.

Funds that accumulate in a Traditional IRA are not completely owned by the IRA owner because every retirement account has a partner, and can you guess who that partner is? That's right, Uncle Sam is the partner in your Traditional IRAs, SEP and SIMPLE IRAs, 401k, 403(b), etc., and he is waiting to take his cut. Imagine you have $1,000,000 in a Traditional IRA…looks great right? Unfortunately, most people will only end up getting about 2/3rds to ½ of their IRA with the other portion going to taxes. The advantage of the Roth IRA is that you fund it with after-tax dollars which will help you avoid a tax time bomb when retirement rolls around.

“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.”

In 2008 I became a member of Ed Slott’s Master 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 Group℠ 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 figure out whether a Roth IRA or 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 Master Elite IRA Advisor Group℠, I take pride in taking necessary steps to understand the intricacies of retirement accounts and the tax laws that impact them and knowing that I am up to speed on the latest retirement strategies so that I can confidently provide my clients with the help they need to plan for a successful retirement.

“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."

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 Group℠ 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 for more information.

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