backdoor roth ira
7 Retirement Planning Hacks High Earners Miss?
In 2024, more than 2.3 million high-income earners used a backdoor Roth IRA to sidestep contribution limits, saving an average of $175,000 in projected taxable retirement income. The method is legal, but it hinges on precise timing, paperwork, and an understanding of the pro-rata rule. Financial Disclaimer: This