The program “This Week in Wealth” that airs on WGN(AM) on Sundays from 6:30 a.m. to 7 a.m. is sponsored by Alpha Wealth Group. Tom Fortino is an investment advisor representative of Retirement Wealth Advisors, LLC, an SEC registered advisor. Alpha Wealth Group, WGN and RWA are not affiliated. Exposure to ideas and financial vehicles discussed should not be considered investment advice or recommendation to buy or sell any financial vehicle. This information should not be considered tax or legal advice. Individuals should consult with professionals specialized in fields of tax, legal, accounting, or investments regarding the applicability of this information for their situation. Past performance is not a guarantee of future results. Investments will fluctuate and when redeemed may be worth more or less than when originally invested. Any comments regarding safe and secure investments and guaranteed income streams refer only to fixed insurance products. They do not refer in any way to securities or investment advisory products. Fixed Insurance and Annuity product guarantees are subject to the claims‐paying ability of the issuing company and are not offered by Retirement Wealth Advisors. Insurance and annuities offered through Alpha Wealth Group, licensed in Illinois.

This Week In Wealth 11/28/21: Americans would no longer be able to use some popular investing strategies under new bill

This Week in Wealth

WGN Radio’s Ilyce Glink and Tom Fortino from Alpha Wealth Group give you the latest financial business news and financial planning advice and more!

Americans would no longer be able to use some popular strategies to move money into tax-free Roth individual retirement accounts under a roughly $2 trillion education, healthcare and climate package House Democrats approved on Friday.

The bill, passed along partisan lines and expected to be amended by the Senate, includes a series of provisions Democrats are backing in an effort to prevent the wealthiest Americans from shielding multimillion-dollar retirement accounts from taxes. Starting Jan. 1, 2022, the legislation would prohibit use of a type of Roth conversion known as the mega-backdoor Roth conversion. Regular Roth conversions would still be allowed, although starting in 2032, they would be off-limits for people with higher incomes.

Listen as Ilyce and Tom discuss the ins and outs of the bill and what it means for you.

If you’d like to get involved with the show, you can call at 630-934-1855. A member of Tom Fortino’s group will get back to you.

Copyright 2022 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

This Week in Wealth
with Tom Fortino and Ilyce Glink

Sundays 6:30-7am ThisWeekInWealth

When it comes to saving, spending, investing and taxes, life can get complicated. Especially now. To unravel the jargon and help you spend smarter, tune into This Week in Wealth. Click for more.

Popular