Retirement

Backdoor Roth IRA
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Backdoor Roth IRA

What Is a Backdoor Roth IRA? A backdoor Roth IRA is a strategy rather than an official type of individual retirement account. It is a technique used by high-income earners—who exceed Roth IRA income limits—to convert their traditional IRA to a Roth IRA. Depending on your age, you can make a contribution of  either $6000 or $7000 into…

Roth IRA Magic
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Roth IRA Magic

What is a Roth IRA? A Roth IRA is an individual retirement account (IRA) in which your investment grows tax-free. You can withdraw your contributions at anytime and income at qualified events penalty free. Your contributions are made with after tax dollars which means that you don’t get any tax deduction in the year you…