Learn the correct strategy for executing a Backdoor Roth IRA! In this video, I will cover the steps to take and common pitfalls to avoid to make the most of this retirement savings approach. From misconceptions about Roth IRAs to setting up and converting your accounts, we guide you through each step of the process.

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0:00 - Overview
0:33 - Misconception about Roth IRA
1:12 - About the Backdoor Roth IRA
1:33 - Step 1: Open a Traditional IRA
1:38 - Step 2: Make a Non-Deductible Contribution
2:09 - Step 3: Open a Roth IRA
2:14 - Step 4: Make the Roth Conversion
3:27 - Loophole
4:29 - 1st Pitfall to the Backdoor Roth IRA
5:32 - 2nd Pitfall to the Backdoor Roth IRA
6:15 - Final Thoughts
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🚀 Disclaimer: This podcast is for educational purposes only and does not constitute financial advice. Consult with a qualified professional before making any investment decision