Whiteboard Series

Whiteboard Series: Backdoor Roth IRA

As many Millennials begin to see their incomes rise, they are beginning to the phaseout of being able to contribute to one of the most powerful investment vehicles around–the Roth IRA. I’m surprised how few people are aware of the backdoor Roth IRA strategy which until the most recent tax bill was technically a loophole. But it now has received the blessing of the government as a strategy high-income earners should consider.

In this Whiteboard Series, I cover the basics of the backdoor Roth contribution, how it is done and why you should have a professional help you evaluate and implement it. While this is a relatively simple strategy, there are a number of areas that can cause problems if not done properly. Be sure to consult your financial advisor before making any changes to your current plan.

Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimer page.