The Backdoor Roth FAQ 

Many a high-income professional who earns too much to make a direct Roth IRA contribution will need to use the backdoor to make a Roth IRA contribution of $6,000 or $7,000 (if age 50 or over).

With pending legislation that may eliminate this option, it’s more important than ever to get this done.

You may never have another chance to contribute to a Roth IRA unless your income is reduced to a number the government deems low enough to make a direct Roth IRA contribution

You make too much money, fancy pants high earner, to get a tax deduction from a traditional IRA contribution. However, you can still make a non-deductible contribution. Nothing changes on your taxes, and you have more money in an IRA now. Good, it’s protected

What’s the point of all this?

The Backdoor Roth FAQ

Yes, you have to create these accounts.

Do I need to open a traditional IRA and Roth IRA?

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