Want To Learn What You Need To Do to Become Financially Empowered?
So You Can Accomplish More With Your Money!

Then you should check out my FREE money 101 video called “Becoming a Seriously Savvy Woman”.

If you’ve been struggling with not knowing what to do or where to start when it comes to investing and managing your finances then you should watch this Video Training because among other things it reveals:

The Four Rules of Money for Women
The Five Steps to Financial Empowerment
The Five Secrets to Becoming a Seriously Savvy Woman

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Catherine Magaña is a CFP® or CERTIFIED FINANCIAL PLANNER™ and Managing Partner at Savvy Women Wealth Management in Carlsbad California.

We help women invest wisely and create custom financial plans for their way of living so they can enjoy a fulfilling retirement with peace of mind…
…without giving up their lifestyle.
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Today’s tip will cover What is a back-door Roth IRA?

A backdoor Roth IRA is a conversion of Traditional IRA assets to a Roth IRA. This is a great way for high income earners to put money away if you do not qualify for Roth IRA income limits.

This is how it works, you put money in a traditional IRA, convert the account to a Roth IRA, you might need to pay some taxes based on your income, this would include the converted amount from your Traditional IRA too if you took a deduction. Or, if you make nondeductible contributions to a Traditional IRA which is money that you already paid taxes on, then you can convert it to a Roth without another tax bill.

I would suggest you look at your overall financial situation to see if this strategy makes sense for you. For your specific tax related questions consult with your tax advisor.

Catherine Magaña is a CFP® or CERTIFIED FINANCIAL PLANNER TM and Managing Partner at Savvy Women Wealth Management in Carlsbad California.

We run a Savvy Women Wealth Practice in Carlsbad, California offering financial planning and investment advice. Most of our clients are fun, engaging women who are driven to succeed both personally and professionally. They have spent most of their lives focusing on others and realize they must take more responsibility in their financial future. They don’t want to simply be told what to do they want to learn, become more engaged and accountable for their financial future.

Get Savvy about your Finances & Live your Life Empowered!

www.savvyup.com | P: 760.692.5700
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LEARN MORE ABOUT: IRA Accounts

CONVERT IRA TO GOLD: Gold IRA Account

CONVERT IRA TO SILVER: Silver IRA Account

REVEALED: Best Gold Backed IRA