The Backdoor Roth FAQ

As the New Year begins, many a high-income professional who earns too much to make a direct Roth IRA contribution will use the backdoor to make a Roth IRA contribution of $6,000 or $7,000.

As someone who fields multiple questions a day on the topic at the end of one year and beginning of the next, I felt it would be great to push this list of frequently asked questions about the backdoor Roth to the general public.

Your Backdoor Roth Questions Answered

If you have any questions, they’re likely answered multiple times in the blog posts featured at the beginning.

Q: Can I use old accounts?

Ans: Yes. Makes it easier.

Q: Won’t my traditional IRA disappear now that it’s zero?

Ans: No, the account won’t close afterward.

Q: So every year I have to open new accounts?

Ans: No, you’ll use the same ones next year. Or open new ones; go crazy.

Q: – I don’t have $6,000 yet. should I add money over X period of time as I save up?

Ans: No. Save up, then lump sum, lump convert immediately.

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Physician on FIRE