Backdoor Roth: Tax-Free Retirement for Doctors

Physician Family Financial Advisors Podcast

Backdoor Roths are useful, tax-free strategies for physicians to invest in their futures. But what exactly is a Backdoor Roth and how does it differ from a traditional IRA account? Does ‘Backdoor’ mean it’s illegal? Can everyone set up a Backdoor Roth? Tune in to learn how you can set up a Backdoor Roth IRA. If set up early, Backdoor Roth IRAs have the potential to drastically impact a physician’s tax-free savings for retirement.

ASK A QUESTION

Send your questions about taxes, investing, extra money, retirement, college and financial parenting to [e-mail] or call the Physician Family Answer Line at [phone].

IN THIS EPISODE

• 03:11] Do physicians make too much to contribute to a traditional IRA?
• [05:40] How can physicians move money from a traditional IRA account to a Roth IRA account?
• [10:17] What are the steps necessary for an IRA account with no basis?
• [12:40] Can a stay-at-home spouse contribute directly to a Roth IRA?
• [16:14] A shocking number of physicians do not know what a Roth IRA is.

NOTICE

Physician Family Financial Advisors Inc., a registered investment advisor, has reasonable belief that the information and content as a whole does not include any false or materially misleading statements or omissions of facts regarding services, investments, or client experience. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Information expressed does not take into account the specific situation or objectives of individuals and is not intended as recommendations appropriate for all individuals. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.