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January 2022

What If Congress Bans the Roth 2-Step, the Backdoor Roth in 2022?

  What happens if Congress bans the backdoor Roth, otherwise known as the Roth two-step in 2022? Hello, my name is Paul Carroll, the CEO and founder of Avion Wealth an elite wealth management firm here in Texas. Now the Build Back Better Act is pretty much stalled, but it hasn’t gone away. And in both versions, both the House and the Senate agree on one thing. And that is the elimination of both the backdoor Roth strategy and also what’s known as the mega-backdoor Roth strategy. So first what’s a backdoor Roth? All a backdoor Roth is, is taking advantage of different rules to put after-tax dollars into a traditional IRA, and then subsequently convert those after-tax dollars in that traditional IRA to a Roth IRA. It’s a tax-free maneuver, and it gets around the income limits for making direct contributions into the Roth IRA. The mega-backdoor Roth is…

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Is Yesterday’s Market Rout a Portend of Things to Come in 2022?

  Yesterday saw the biggest tech selling rout in over a decade. Is this a portend of 2022, is this what we should expect looking forward? Hello, my name’s Paul Carroll. I’m the CEO and founder of Avion Wealth, an elite wealth management firm here in Texas. Happy new year. Yesterday, the fed released its minutes from its policy meeting, clearly indicating they’re going to be raising interest rates here probably sooner than later. Now, frankly, unless you’re in a COVID induced coma, this shouldn’t be news to you. It’s in the news. They’ve been talking about it. They’ve been criticizing the fed for a year. Of course, it was going to happen. It’s happening all over the world. I’m enthusiastic though. 2022 is probably the end of the pandemic. What we’re seeing with this Omicron is greater infectiousness, but milder symptoms. We are evolving from pandemic to endemic. Now,…

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