Backdoor Roth IRA Complete Guide.. Wealth Lawyer Explains

Schedule a Call if you need assistance doing a Backdoor Roth IRA - https://directedira.com/appointment/?...

Learn the correct strategy for executing a Backdoor Roth IRA! In this video, I will cover the steps to take and common pitfalls to avoid to make the most of this retirement savings approach. From misconceptions about Roth IRAs to setting up and converting your accounts, we guide you through each step of the process.

0:00 - Overview
0:33 - Misconception about Roth IRA
1:12 - About the Backdoor Roth IRA
1:33 - Step 1: Open a Traditional IRA
1:38 - Step 2: Make a Non-Deductible Contribution
2:09 - Step 3: Open a Roth IRA
2:14 - Step 4: Make the Roth Conversion
3:27 - Loophole
4:29 - 1st Pitfall to the Backdoor Roth IRA
5:32 - 2nd Pitfall to the Backdoor Roth IRA
6:15 - Final Thoughts
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