Last week I wrote about how to use a backdoor approach to get around the income limit of your Roth IRA contributions. I mentioned at the end of my post that there are drawbacks to this maneuver and listed five reasons you should pay close attention when making your backdoor Roth conversion.
In this post, I will show you the step by step instructions on how to correctly file for your backdoor Roth IRA for 2017 contributions.
A backdoor Roth IRA is the essentially converting your traditional IRA to Roth IRA. How and why do you do that? Come read my post. It’s worth a few minutes of your day.read my post. It’s worth a few minutes of your day.
Do you have a Roth IRA account? Have you thought about what advantages you get from investing in a Roth account as opposed to a taxable account? It’s worth a few minutes of time to consider your options.