Is a Backdoor Roth Conversion Right For You?
April 30, 2021
Roth IRAs are one of the most versatile retirement investment vehicles available. Because they were originally intended to aid young and low-income workers in saving for retirement, Roth IRAs have income limits. However, a loophole in tax law allows even high-income earners to take advantage of a Roth IRA by doing what is known as a backdoor Roth conversion. This article provides an overview of the benefits a Roth IRA offers, the process of making a backdoor conversion, and some potential pitfalls to be aware of.