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Message
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Posted on 11/12/13 at 9:50 pm to jimbeam
quote:
Back door roth
Maybe could work, but there are caveats. The big one is that if you already have a large regular IRA you can get hit with a large tax bill b/c the existing balance is taxed too.
But if the OP has no (or has a small) regular IRA this could work.
Posted on 11/13/13 at 7:40 am to jimbeam
Where is the easiest place to open a "non-deductible" ira and then immediately convert to a Roth IRA? Can you do this online, or do I need to see a financial advisor of some sort?
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