Tag: Backdoor Roth IRA
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What to do if you wrongfully contributed to a Roth IRA
We all make mistakes, we are human after all. There are so many rules and regulations surrounding personal finance that it’s hard to get it right all the time. In this article, we’ll talk about one of the more terrifying mistakes, which is actually quite easy to fix! The contribution & the problem So there
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Highway to Retirement. Do not miss this overpowered tax cheat code! Roth IRA
If you are only going to read one of the articles here at The Wealthy Idiots (ha, not possible!), this is the one you must read! You’ve probably heard people mention a Roth IRA and that’s because it’s the gold standard of retirement tools. The Roth IRA is the whole shebang. It is easy to open, simple to operate, diverse, and has super low fees (which we’ll talk about more in future articles). Oh yeah, and depending on how you structure your financial planning, the Roth IRA could account for a “bucket” of income in retirement… a bucket of TAX FREE INCOME! Let’s jump into the specifics!