The Tax Advantages of ROTH Conversions
A workshop for all Hammond Law Group Clients and their Guests – The current tax regime is allowing for a tremendous opportunity that might not present itself again for many years.
If you have an IRA or a 401k from an employer who you no longer work for, you have the opportunity to convert all or a part of those plans to a ROTH IRA at historically low tax rates. Once funds are in a ROTH IRA they grow tax free and are not subject to Required Minimum Distributions in the future.
While the opportunity is significant, so are the potential pitfalls.
Patrick D. Johnson, CFP, CLU, ChFC
Patrick began his career in financial services in 1996 and has served clients in a litany of capacities: as a traditional investment broker; as a Vice President in the Trust Department with a large super-regional bank in the capacity of a financial planner helping the bank’s high net worth clients; and, as the president of a life insurance brokerage general agency.
Patrick believes strongly in giving back to the client-advisory community and has served on a local level as: President of the Financial Planning Association (FPA); Board of National Association of Insurance and Financial Advisors (NAIFA); Speaker for Continuing Education for Estate Planning Attorneys, CPAs and Life Insurance Agents.
Patrick holds a B.A. in English from Furman University. In addition, he also holds the following professional designations: Certified Financial Planner (CFP), Chartered Life Underwriter (CLU), and Chartered Financial Consultant (ChFC).
Patrick is married to Jenny, his wife of twenty years. Patrick and Jenny have two children and live in Woodland Park, Colorado.