The Backdoor Roth: Key Benefits and Pitfalls to Avoid
So you make too much money to contribute directly to a Roth IRA. First off, congratulations – that’s a good problem to have! But it’s also frustrating when you want those sweet tax-free retirement benefits and the IRS basically says, “Sorry, you’re too successful for this party.” Enter the backdoor Roth – a perfectly legal […]
Should I Convert My Traditional Savings to Roth?
You’re standing at a crossroads, holding your retirement savings, and Uncle Sam is offering you two deals. Door number one? Pay him later when you’re older and wiser. Door number two? Pay him now, and he’ll call it even forever. That’s essentially the choice between Traditional and Roth retirement accounts, and honestly, it could be […]