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Bonus Ep: Backdoor Roth IRA
Manage episode 393516756 series 3528145
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Hey Rich Girls, Kirby here - and today is my very first bonus episode! We are doing a short & sweet overview of Roth IRA backdoor contributions for those of you high earners who need ~options~
**please note this is not investment advice, just my opinion & should be used for entertainment purposes only**
Follow along on my 2024 budgeting journey: //www.tiktok.com/@richgirlsguide
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ARTICLES MENTIONED:
Fidelity Roth Contribution Breakdown: https://www.fidelity.com/learning-center/smart-money/roth-ira-contribution-limits#:~:text=Key%20takeaways,for%20those%2050%20and%20older.
Investopedia MAGI Explanation: https://www.investopedia.com/terms/m/magi.asp
Excess Contribution Penalty: https://www.fidelity.com/learning-center/smart-money/overcontribute-to-an-ira#:~:text=If%20you%20don't%20remove,on%20tax%20penalties%20for%20IRAs.
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