Another Way In: Backdoor Roth IRAs, Explained

By John Halterman Taxes don’t go away in retirement. But there is a way to lessen their impact on your retirement savings. In this article, we’ll cover the ins and outs of the Backdoor Roth IRA and explain how it could benefit you. There’s a reason Americans love Roth IRAs—they come with some major tax benefits. You pay taxes on your contributions up front, but then your investments grow 100% tax-free. Additionally, when you start taking withdrawals in retirement, none of that money counts as taxable income. It’s a very attractive option for those who can qualify. But that’s […]