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The back door Roth IRA

5/21/2018

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A move that high earners can make in pursuit of tax-free retirement income
Does your high income stop you from contributing to a Roth IRA? It does not necessarily prohibit you from having one. You may be able to create a backdoor Roth IRA and give yourself the potential for a tax-free income stream in retirement.  
 
If you think you will be in a high tax bracket when you retire, a tax-free income stream is just what you want. The backdoor Roth IRA is a maneuver you can make in pursuit of that goal – a perfectly legal workaround, its legitimacy further affirmed by language in the Tax Cuts & Jobs Act of 2017.1

You establish a backdoor Roth IRA in two steps. The first step: make a non-deductible contribution to a traditional IRA. (In other words, you contribute after-tax dollars to it, as you would to a Roth retirement account.)1

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​©2022 OCTO Capital, LLC. OCTO Capital is a Michigan-based Investment Advisory Firm. We may only transact business in those states in which we are registered, or qualify for an exemption or exclusion from registration requirements.
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​​Are you looking for a fiduciary financial advisor and retirement planner in Metro Detroit, Michigan? You've come to the right place. Octo Capital is serving clients in Michigan, including Bingham Farms, Bloomfield Hills, Troy, Rochester, West Bloomfield, Birmingham, Farmington Hills, Rochester Hills, Sterling Heights, Shelby Twp, Livonia, and Northville. We also work with clients located in other states*. We provide comprehensive financial planning and investment management. Our services include retirement income planning, cash flow projections, tax-efficient placement of assets, strategic tax-loss harvesting, coordination of all income sources in retirement, detailed analysis of tax returns focused on tax-saving opportunities, and more.
  • Home
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