If you are above the income limit to contribute to a Roth IRA, you’ve probably at least heard of something called a backdoor Roth IRA contribution. Depending on how immersed you are in the world of finance, and how comfortable you are DIY-ing, you may be hesitant to do a backdoor Roth yourself - or you may already be using the strategy.
Great article, Been doing that for years and now retired.
So if you have a Roth portion of your employer sponsored 401k, can you still do the backdoor conversion from a separate, traditional IRA?
I think my limits are much higher as a 51 year old than you shared in the article of 22,500, right?
I also think it is possibly foolish to have people paying their top marginal tax rate when they could put those dollars into a pretax fund and pay a much lower effective rate on their withdrawals in retirement. I think perhaps its just a flashy way to get what people think is the best thing going, a after tax Roth IRA. Put together an article on why pre and post tax accounts give you the same result if your tax rate is the same before and after retirement.