Easy Do-it-yourself Backdoor Roth IRA with Wealthfront

<p>When your modified adjusted gross income (MAGI) is above a certain threshold, you&rsquo;d have to go through the &ldquo;backdoor&rdquo; conversion if you want to contribute to a Roth IRA. According to&nbsp;<a href="https://www.investopedia.com/terms/b/backdoor-roth-ira.asp" rel="noopener ugc nofollow" target="_blank">Investopedia</a>, &ldquo;a backdoor Roth individual retirement account (IRA) is legally permissible and respected by the Internal Revenue Service (IRS), provided that tax law requirements are met.&rdquo; Financial advisors usually include this conversion service for their clients; if you don&rsquo;t have one, it&rsquo;s not that hard to do it yourself. I found an easy solution using Wealthfront (an automated investment tool), and have done the conversion for the last few years without any hiccups. Assuming you have a Wealthfront account, the how-to steps are laid out below.</p> <p><a href="https://medium.com/@jxlcloud/easy-do-it-yourself-backdoor-roth-ira-with-wealthfront-323fca50d528"><strong>Click Here</strong></a></p>
Tags: Backdoor Roth