IRA – LocalShareSpace https://localsharespace.com A space for sharing anything about everything Sun, 29 Jan 2023 13:43:15 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://localsharespace.com/wp-content/uploads/2023/08/localsharespace-logo-@1.0x-150x150.webp IRA – LocalShareSpace https://localsharespace.com 32 32 How to Do a Backdoor Roth IRA https://localsharespace.com/how-to-do-a-backdoor-roth-ira/ https://localsharespace.com/how-to-do-a-backdoor-roth-ira/#respond Mon, 29 Aug 2022 20:59:22 +0000 https://localsharespace.com/?p=2580 A backdoor Roth IRA allows people with high income to fund a Roth IRA despite the IRS income limits. This backdoor method involves the conversion of a traditional IRA to a Roth IRA. The basic steps require you to first contribute your money into a traditional IRA, and then convert those contributed funds into a Roth IRA. Even though you did not qualify to directly contribute to a Roth IRA…

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