Phillip Cannella Blog: Phil Cannella Discusses the Merits of a Stretch IRA

Phil Cannella – Phillip Cannella Blog: Phil Cannella, in his prowess as the consummate financial advisor, understands the nuances of IRAs and the various ways to leverage them to the benefit of your client’s goals. Phil Cannella has undergone extensive training on IRAs and the various retirement accounts and financial vehicles available to seniors. As a result he has become one of the foremost wanted and desired advisors for retirees throughout the tri-state area.

Phil Cannella shares some of his wisdom in discussing a Stretch IRA. As he puts it: “There’s a way for you to structure your traditional IRAs that allows your heir to “stretch” those retirement accounts across their lifetime.  In simple terms, stretching is one way to inherit an IRA and the way to produce a lifetime supply of tax-free income for your heirs through what’s called a Stretch IRA. If you have an IRA with a designated beneficiary, that beneficiary will take over the account upon your death.  The beneficiary then has two options for what to do with the money: Option 1 – Collect the lump sum; Option 2 – Stretch the account.”

There is much more to a Stretch IRA than just this one paragraph, but suffice to say that if you go through Phil Cannella’s education process you will undoubtedly learn some of the advanced techniques he uses to help his clients day in and day out to live out their retirement dreams. Listen to Phil Cannella share his wealth of knowledge on the Crash Proof Retirement Show or by attending one of his educational events.

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