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The Backdoor Roth IRA: 2 Things You Need to Know, Ep #8
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A Backdoor Roth allows you to create tax-free growth on some of your excess savings. It gets a lot of attention because it feels like you’re doing something wrong (you’re not, we promise). So what do you need to know about the Backdoor Roth IRA? What errors do we commonly see?
The Backdoor Roth is a fantastic tool. And while converting money into a Backdoor Roth IRA isn’t as complicated as it’s made out to be…there are a few things you should know before you dive in. We’ll talk through those in this episode of Physician Cents.
You will want to hear this episode if you are interested in...- How a Backdoor Roth IRA works [1:12]
- #1:The Pro Rata Rule [3:48]
- #2: The Step Doctrine [7:40]
- Use an accountant the first time [12:52]
- WealthKeel LLC
- Olson Consulting LLC
- Tyler Olson on Twitter
- Chad Chubb, CFP®, CSLP® on Twitter
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