Backdoor Roth IRA for people who make too much $ #taxes #rothira

Summary

This video discusses the backdoor Roth IRA method, which allows individuals with high incomes to still contribute to a Roth IRA by first contributing to a traditional IRA and then converting it to a Roth IRA. This strategy aims to avoid earnings during the conversion period and maximize tax benefits within the Roth IRA limit of $6,500 as of 2023.