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My wife and I have $2.5 million, but not much in Roths. Should we do a mega backdoor conversion?
“We save $7,000 per month in our taxable account, and we are both maximizing our 401(k) plans.” ...
Unlike with traditional IRAs, Roths do not provide tax savings, so anyone converting such funds to a Roth must pay federal income taxes on the amount converted.
That said, Roth accounts aren't necessarily out of your reach. One potential solution is a backdoor Roth conversion. This strategy involves contributing to a traditional retirement account, then ...
Retirement planning can feel like solving a jigsaw puzzle, especially for high-income households. If you're earning too much to qualify for a Roth IRA directly, you might assume that the Roth IRA's ...
HUNTSVILLE, Ala. (WAFF) - A backdoor Roth conversion is a strategy used by high-income earners to contribute to a Roth IRA, even when their income exceeds the IRS limits for direct Roth contributions.
Few people will dispute the fact that Roth IRAs are an incredibly powerful way to grow wealth. Unfortunately, getting a significant amount of money into a Roth account is tricky. In 2025, annual ...
To continue reading this content, please enable JavaScript in your browser settings and refresh this page. A Roth IRA is one of the most powerful retirement savings ...
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