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What is a Backdoor Roth IRA? #shorts


Do you want to know how to protect the value of your retirement savings? Get a free report at ▶️ Understanding Backdoor Roth IRA A backdoor Roth IRA is a means for people who earn above Roth IRA income limits to qualify to contribute to Roth IRAs by meeting certain conditions. The government has set income limits for contributors to Roth IRAs. For 2021, the limit is $208,000 if you file jointly as married and $140,000 if you file as a single. In essence a backdoor Roth IRA enables people whatever their income level to open a Roth IRA. The "backdoor" process involves putting money in a traditional IRA and then converting the funds to a Roth IRA after paying the taxes due. In a Roth IRA your money will grow tax-free until you withdraw at retirement. Do you want to know how to protect the value of your retirement savings? Get a free report at ▶️ ...(read more)


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