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I earn $200K per year and will likely retire in a higher tax bracket. Is a backdoor Roth IRA a good strategy for me?

By Yahoo! Finance   |   1 month ago
I earn $200K per year and will likely retire in a higher tax bracket. Is a backdoor Roth IRA a good strategy for me?

High-income earners face Roth IRA contribution restrictions, but a backdoor Roth IRA offers a solution. By contributing to a traditional IRA and converting to a Roth, individuals can secure tax-free growth. Careful tax reporting is essential to avoid IRS issues.

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