Tag: Schwab

2021 Charles Schwab Backdoor Roth IRA Step By Step

The main advantage of a Roth IRA is that your money grows tax free, and when you withdraw in retirement, you pay no taxes. For example, consider a Roth IRA that starts with $6,000 and grows to $6,500. During retirement, you can withdraw the gain of $500 tax-free. Now, consider a non-IRA account like...