“An investment in knowledge pays the best interest.” – Benjamin Franklin

Backdoor Roth IRAs

If you earn too much income to open a Roth IRA, you could create one with this strategy.

You can sum up the appeal of a Roth IRA in three words: federal tax benefit.

Potential earnings in a Roth IRA grow tax free as long as the owner abides by the Internal Revenue Service (I.R.S.) rules, and withdrawals are federally tax free once you reach age 59 1/2 and have held the Roth IRA for at least five years.

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