On today’s episode, we’re going to discuss the value of a “backdoor” Roth IRA for high-income earners who are not eligible for regular Roth IRAs. A lot of higher-income earners use this workaround and yes it’s completely legal and a great concept! One of the biggest fears of pre-retirees is future higher tax brackets and a Roth IRA protects against that if you are eligible. But, what can you do if you aren’t eligible for a Roth IRA?

By contributing directly to a traditional IRA, you can become eligible to convert it to a Roth IRA at ordinary income tax rates. Now the growth is 100% tax-free. Of course, we always recommend discussing these strategies with a professional and customizing a plan that works best for your future.

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0:44 – What is a backdoor Roth?
3:36 – What if you want to put more in?

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