Backdoor Roth is a legal workaround that allows high-income earners that have been phased out of a full $7K contribution to still put the full $7K contributions in (just with more steps, and a bit of paperwork with IRS Form 8606). Even if your wife is not working you can still put in $7K for each of you to a Roth IRA through the backdoor process. You can't have any Trad IRAs with a non-zero balance or that complicates things (pro rata rules on conversion) for whichever one of you has a Trad IRA. Read the Wiki topic and ask questions if it doesn't make sense or you need clarificaiton.I've not heard of Backdoor Roth IRAs before, and I'm not sure how you determined that "the feeds are pretty good in [my] 401k". Given that I'm still actively contributing to the 401k, when would I take advantage of a Backdoor Roth... is that an annual thing? Finally, you're correct: my wife is not working & doesn't have a 401k.
Statistics: Posted by bonesly — Fri Feb 07, 2025 11:12 pm — Replies 22 — Views 2349