I was trying to contribute to Roth IRA but it says you are not allowed if your income is more than 240K. Are there any workarounds? What happens if you still contribute as Fidelity don't block you from sending money #finance #investments #401K #IRA TC: 175 15 yoe
Back door Roth IRA. But employer has to support it first
Find an employer which supports mega backdoor . I contribute 69k in total to 401.
Can you share details on how to achieve this
backdoor, mega backdoor
With vanguard Invest in traditional IRA And at year end you convert that to Roth there is online option
Convert right away. Why wait for year end ?
Yes, convert as soon as the money lands on the TIRA. Check youtube, there are many videos how to do a backdoor roth IRA. Fully legal. I wish I knew about this years ago, only figured it out in 2023. You might be able to still contribute for 2023,check that out