Here's How to Sneak $36,000 a Year into a Roth IRA

Here's How to Sneak $36,000 a Year into a Roth IRA

You might have read about how anyone could sneak $5,500 a year into a Roth IRA - even if exceeding standard income limitations - through a technique known as the backdoor Roth IRA. But did you know there is an even trickier technique out there that allows some lucky people to contribute up to $36,000 a year into a Roth IRA? Given the larger size and to differentiate it from the typical backdoor Roth IRA, some have started calling this technique the "mega backdoor Roth IRA.”

5 Things to Look for When Picking a Financial Advisor

5 Things to Look for When Picking a Financial Advisor

The financial advisor ecosystem can be surprisingly complex. Nearly anyone can call themselves a financial advisor, financial planner, or financial coach, with minimum qualifications required. As a result, it's important to be careful and thoughtful when selecting a professional to help you save, grow, and protect your savings. Here are five things to consider when shopping for a financial advisor.

Executing the Backdoor Roth IRA

Executing the Backdoor Roth IRA

A Roth IRA is the ultimate retirement vehicle, as it allows you to contribute post-tax dollars to a retirement account. That means a Roth IRA grows tax-free and is withdrawn tax-free since you've paid taxes on the money upfront. That sounds like a good deal - unless you bump up against income barriers. If you make too much money, you might find yourself blocked from contributing to a Roth IRA - that is, unless you go through the backdoor.