Timothy Sumer

YouTube Shorts High income earners cannot do Roth IRA, so back door Roth IRA presents a good opportunity to save for retirement. The opinion in the video is for education and basic understanding, please contact your financial advisor or do further research before investing. This is not a financial advise. Subscribe: Investing is 4 every1 Also visit my blog page: Financehealthbyme.wordpress.com Please like, comment and share. Facebook group: Financehealthbyme... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERT IRA TO GOLD: Gold IRA Account CONVERT IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA The back door Roth IRA is a strategy to contribute to a Roth IRA, even if your income exceeds the IRS limits. Here's how it works: First, you contribute to a traditional IRA. Then, you convert that traditional IRA into a Roth IRA. This conversion is called a back door Roth conversion. The key is that there are no income limits for

On Your Money, Your Wealth® podcast #314 with Joe Anderson, CFP® and Big Al Clopine, CPA: Are you eligible to make a backdoor Roth IRA conversion? Is it allowed? Is it taxed? How does a Roth 401(k) different from a Roth IRA? Can you buy a family member’s condo for below market value then rent it back to them? Can you max out a family member's Roth each year? Can you file 2020 taxes even though you haven't received IRS form 1098 yet? How can you diversify your portfolio into more international investments? How do capital gains "ride on top" of ordinary income again? And finally, a correction regarding Social Security deeming rules. Access the transcript and financial resources, ask your money questions: 00:00 - Intro 01:00 - Can I Do a Backdoor Roth Conversion? (Nick, Huntington Beach, CA) 09:11 - Is a Backdoor Roth Conversion Taxed? (René) 12:56 - We Make too Much to Contribute to Roth. Are Backdoor and Mega Backdoor Roth Strategies Allowed? (Jane, Michiga