The Backdoor Roth FAQ

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General Backdoor Roth Overview

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You make too much money, fancy pants high earner, to get a tax deduction from a traditional IRA contribution.

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However, you can still make a non-deductible contribution. Nothing changes on your taxes, and you have more money in an IRA now. Good, it’s protected.

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Swipe Up at any time for more details

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Do I need to open a traditional IRA and Roth IRA?

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Can I use old accounts?

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

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I heard I want to dollar cost average, what time frame should I use?

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

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The Backdoor Roth FAQ

General Backdoor Roth Overview

You make too much money, fancy pants high earner, to get a tax deduction from a traditional IRA contribution.

However, you can still make a non-deductible contribution. Nothing changes on your taxes, and you have more money in an IRA now. Good, it’s protected.

Swipe Up at any time for more details

Do I need to open a traditional IRA and Roth IRA?

Yes, you have to create these accounts.

Can I use old accounts?

Yes. Makes it easier.

– 2 Years of FIRE: Life After an Early Exit From Medicine

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

No, the account won’t close afterward.

I heard I want to dollar cost average, what time frame should I use?

No. Lump sum, and lump convert immediately.

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

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

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