Tips for Roth IRA Rollovers and Backdoor Accounts
Money Girl
Macmillan Holdings, LLC
4.6 • 1.8K Ratings
🗓️ 24 August 2022
⏱️ 15 minutes
🧾️ Download transcript
Summary
While using a tax-free Roth IRA to save for retirement is a smart move, you can’t contribute if your income is too high. Laura answers a listener question about how to have one using a backdoor strategy, and rules for doing a Roth IRA rollover.
Money Girl is hosted by Laura Adams. A transcript is available at Simplecast.
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Transcript
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| 0:00.0 | A money girl listener named Nuno says, |
| 0:08.2 | I follow your podcast, but with so many episodes, |
| 0:11.5 | it's getting hard to find specific topics. |
| 0:14.0 | I was wondering if you've ever |
| 0:15.9 | addressed how a backdoor Roth IRA works, |
| 0:19.9 | and the consequences of rolling over a 401k into a Roth IRA. |
| 0:24.8 | If not, I was wondering if you could cover |
| 0:27.2 | those topics on a future podcast. |
| 0:29.8 | Thank you, Nuno. |
| 0:30.8 | I have podcasted about those crucial topics before, |
| 0:34.3 | but I would love to review them today. |
| 0:37.2 | So if you're like Nuno, |
| 0:38.4 | and you want to learn more about IRA rollovers, |
| 0:41.3 | and what a backdoor Roth is, stay with me. |
| 0:45.7 | I'll make them easy to understand, |
| 0:47.4 | even if you don't have a Roth IRA, |
| 0:49.9 | or maybe you earn too much to qualify for one. |
| 0:53.2 | Hey, friends, I'm Laura Adams, |
| 0:55.3 | and I'm so glad you're with me |
| 0:57.1 | and you've downloaded the show. |
| 0:58.7 | If you're new here, I'm an award-winning |
| 1:00.5 | personal finance author, |
... |
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