Phillip Cannella News: Phil Cannella Explains Where a “Roth IRA” Gets Its Name From

Phil Cannella – Phillip Cannella News: Phil Cannella, being a well-educated financial advisor, has studied IRA laws in depth including the differences, advantages and disadvantages alike between the Traditional IRA and the Roth IRA. Phil Cannella is a vocal proponent of Roth IRAs for the simple fact that once the taxes are paid on the monies, the account can grow tax-free and you will never face another penny of taxes on the principal or interest gained.

The word “Roth” seems a little clumsy and Phil Cannella explains the origin of the name: “You may wonder why the IRS was so generous to begin with by making the Roth IRA available to all retirees.  William Roth, who led the legislative effort to create this type of account, was a fiscal conservative and dedicated his political life to the easing of taxes on the middle class.  In so doing, he helped create the Roth IRA.”

Phil Cannella, like many others, offers words of praise for Mr. Roth. Many, many individuals have taken advantage of the benefits of the Roth IRA.