It's Brian Preston, the money guy, restoring order to your financial chaos, retirement,

investing, taxing.

You've got financial questions, he's got financial answers.

It's Brian Preston, the money guy.

All right, Hayden on YouTube asks, my wife and I will likely be over the Roth IRA income

limit for 2022.

We've paused regular contributions for now. Can we take out the excess and perform a backdoor

in the same year?

So some fancy Roth IRA things happening.

I wanted because I was busy adding an extra page on my tablet here.

So I didn't catch and then I was like, whoa, that actually sound like I had some weight

to it.

But why don't you re-summarize the question and also take first shot at it.

So Hayden says this year in 2022, they figured out their income is going to be over the

Roth limit that already been doing Roth contributions.

Perhaps they listened to some of our dollar cost averaging stuff and know how much we love

that.

But then they realized, uh-oh, income is too high.

By the way, Hayden, good problem to have.

So they stopped it and they're like, but I want to get my money working.

Can I pull those contributions out that have already made and do a backdoor?

And what do I need to know if I should do a backdoor?

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