Discuss all general (i.e. non-personal) investing questions and issues, investing news, and theory.
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Can someone please explain to me, in very layman terms, what is a Backdoor Roth, when and how Is it utilized. I’ll even take a link to a site that breaks it down.
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It’s taken me a lot of years, but I’ve come around to this: If you’re dumb, surround yourself with smart people. And if you’re smart, surround yourself with smart people who disagree with you.
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And note that, although the name is similar and the general intent of "getting money into a Roth account" is the same, the process for a Mega Backdoor Roth
is not at all the same as for the backdoor Roth.