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Romney Makes a Classic Wealth Management Mistake

by on January 23, 2012

If you’re in MD, DE, PA, or VA and want to learn more about Roth and Traditional IRAs, drop me a line. EE

‘According to The Wall Street Journal on Thursday, January 19, 2012, Gov. Romney’s former employer, Bain Capital, made an investment in an IRA on his behalf that appreciated to between $20 million and $101 million. According to the Journal, the investment appears to have been in a traditional IRA instead of a Roth IRA, which offers additional tax benefits in protecting investment gains.

‘PENSCO Kelly Rodriques notes that had Romney’s investment been in a Roth IRA, his gains would have been tax deferred and potentially tax free upon withdrawal.’

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