Would you like to put $58,000 into a Roth IRA this year, then grow that money, tax-free, until you retire, and then take it out as tax-free retirement income?
In this episode, J Barry Watts introduces the mega back door Roth IRA strategy. He shares how some individuals can contribute $58,000 to their Roth IRA, despite traditional limits on contributions. Barry covers what you need to understand about Roths, including who can have a Roth and more.
Barry discusses:
- What you need to understand about Roth IRAs
- Who is eligible to have a Roth IRA
- How people can contribute $58,000 instead of $6000 to a Roth IRA
- The mechanics of the mega backdoor Roth IRA strategy
- And more