A Backdoor Roth IRA is a powerful tool for building long-term, tax-free wealth, but navigating the process can be tricky. In this episode we  break down the basics and advanced strategies of the backdoor Roth IRA—what it is, who should use it, and how to do it right. Learn how to execute the process step-by-step, address common mistakes like over-contributing, and clarify when the backdoor Roth IRA is necessary. Plus, we dive into the pro-rata rule and what it means for those with existing traditional IRAs. Tune in now to master the Backdoor Roth IRA with confidence! 

[00:08:12] What is a Backdoor Roth IRA?
[00:15:30] Key benefits of a Roth IRA for tax-free wealth building
[00:21:09] Step-by-step guide to executing a Backdoor Roth IRA
[00:23:37] Tax implications and legal considerations to keep in mind
[00:24:34] Addressing Common Questions and Concerns about Backdoor Roth IRA
[00:26:23] Who should consider using a Backdoor Roth IRA strategy?
[00:29:03] How to fix mistakes in Roth IRA contributions
[00:32:39] The pro-rata rule explained and how it affects your strategy

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