Backdoor Roth IRA
In this episode of Thinking Solo, financial planner Ryan Derousseau explores the backdoor Roth IRA strategy for high earners. Learn how to navigate tax planning, avoid common IRA traps, and optimize retirement savings for self-employed professionals.
Key Topics Covered:
• Why high earners utilize the backdoor Roth IRA to build tax-free wealth
• Step-by-step mechanics of executing a backdoor Roth conversion
• Understanding the IRS pro-rata rule and how to avoid tax pitfalls
• Rolling traditional IRA funds into employer plans to prevent unintended taxation
• Benefits of opening a solo 401(k)…
The skinny
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