The Backdoor Roth IRA

In my previous Roth IRA basics post, I received the following question from a reader, Julia: “Great summary, but I think it’d be interesting to hear about the Backdoor Roth IRA option. Doesn’t the Back Door Roth essentially eliminate all income restrictions on Roths?” It’s a great question. I’ve been neglecting the Backdoor Roth IRA topic entirely for reasons I’ll discuss towards the end of this post. But before we get that far, let’s first cover what a Backdoor Roth IRA is and how it works. What is a Backdoor Roth IRA? A Backdoor Roth IRA is a way for...

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