People who earn a relatively low income are able to save for retirement tax free in a Roth IRA. But wealthy people with very high income can do a backdoor Roth IRA to fund their account instead.

Normally there is a limit of $6,000 dollars per year of earnings that can go into the Roth IRA per year. But if you have a traditional IRA, you can move as much money as you like into the Roth IRA through a conversion. Note: all converted funds are taxable once converted, so you need to make sure you only convert as much money as would keep you in the same tax bracket.

The best time to convert is when you have a year with lower income than normal where the taxes will not be too great.

Note: I am not a licensed financial advisor and this is not financial advice. You need to research the topic and consult with a CPA or tax attorney before moving your funds from one account type to another. Do what makes sense for your financial situation.

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