Tag: Backdoor

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 Investopedia, “a backdoor Roth individual retirement account (IRA) is legally permissibl...

A Mega Backdoor Roth IRA works by making after-tax contributions to a 401(k) plan and then rolling those contributions over to a Roth IRA. After-tax contributions are made with money that has already been taxed, so you will not have to pay taxes on those contributions again when you roll them over t...

You might’ve heard it being whispered at your local Foot Locker or sneaker store. Backdoor sneakers. What does this term mean? Basically, it’s when you’re able to pay for sneakers at retail price without having to wait in line, enter a raffle, or show up and check each day. When...