Easy Do-it-yourself Backdoor Roth IRA with Wealthfront
<p>When your modified adjusted gross income (MAGI) is above a certain threshold, you’d have to go through the “backdoor” conversion if you want to contribute to a Roth IRA. According to <a href="https://www.investopedia.com/terms/b/backdoor-roth-ira.asp" rel="noopener ugc nofollow" target="_blank">Investopedia</a>, “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.” Financial advisors usually include this conversion service for their clients; if you don’t have one, it’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>