The backdoor Roth IRA is one of those financial strategies that sounds complicated but is actually quite simple once you see the steps clearly. If you’ve heard the term and wondered what it means — and whether it applies to you — this guide explains it plainly. First: Why a “Backdoor” Is Needed The Roth … Read more
One of the most common questions I receive as a financial planner 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 … Read more
As a fee-only financial planner who has helped hundreds of families open custodial Roth IRAs for their children, the question I hear most often is not “which account is best” — it’s “which account is cheapest.” That’s the right instinct. When you’re opening a Roth IRA for a teenager who earned $4,000 from a summer … Read more