June 2026 - Roth Wizards

Backdoor Roth IRA Explained Simply: A Beginner’s Guide for 2025

Jennifer Walsh · June 28, 2026

Backdoor Roth IRA Explained Simply: A Beginner’s Guide for 2025

Single filers: You can contribute the full $7,000 if your MAGI (Modified Adjusted Gross Income) is below $150,000. The ability to contribute phases out between $150,000 and $165,000. Above $165,000, you cannot contribute directly at all. Married filing jointly: Full contribution below $236,000, phases out between $236,000 and $246,000, no direct contribution above $246,000. The … Read more

Can I Pay My Child for Chores and Contribute to a Roth IRA?

Jennifer Walsh · June 18, 2026

Can I Pay My Child for Chores and Contribute to a Roth IRA?

One of the most common questions I get is some version of this: “My kid earns money doing things around the house — can I pay them for that and then contribute to a Roth IRA for them?” It’s a genuinely important question, because the Roth IRA is an extraordinary wealth-building vehicle for young people, … Read more

Low-Cost Custodial Roth IRA Accounts for Minors: Best Options in 2025

Jennifer Walsh · June 8, 2026

Low-Cost Custodial Roth IRA Accounts for Minors: Best Options in 2025

Account maintenance fees — Annual fees charged just for having the account open. These are the most important fees to eliminate, and all three major brokerages now charge $0. Trading commissions — Per-trade fees when buying or selling. Again, $0 at all major brokerages for stocks and ETFs. Fund expense ratios — The annual percentage … Read more