In the latest episode of Amplified Wealth’s According to Plan, hosts Kate Fishbein, CFP® and Tom Farrell, CFP®, CEPA dive into one of the most powerful — and misunderstood — retirement strategies: the Backdoor Roth IRA conversion.
This method can be a great way for high earners to access tax-free growth… if done right.
🎙 Episode Highlights:
🔁 What is a Backdoor Roth?
Learn how high-income investors use this strategy to bypass Roth IRA contribution limits — and why timing is everything.
⚠️ The Pro Rata Rule Explained:
Discover the rule that can trigger a surprise tax bill if you’re not careful about existing IRA balances.
📅 Avoiding Mistakes with Multi-Step Conversions:
Why it’s critical to execute your traditional IRA contribution and Roth conversion promptly — and how to track it all with IRS forms.
🔄 Clean vs. Complicated Scenarios:
Tom and Kate walk through clear examples of who this strategy is right for — and who might want to steer clear.
📁 Key Forms You’ll Need:
From Form 8606 to 1099-R — don’t let paperwork derail your strategy.
And more!
Nothing contained in this presentation should be construed as personalized advice, or solicitation to buy or sell any securities. Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk. There can be no assurance that the future performance of any specific investment or non-investment related content in this Podcast will be profitable or suitable for your individual situation. Due to changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions. The opinions expressed in this podcast are those of the participants and may not reflect those of the firm. To the extent you have any questions regarding the applicability of anything discussed to your individual situation, you are encouraged to consult with the professional advisor of your choosing. The firm is neither a law firm, nor a certified public accounting firm, and no portion of this content should be construed as legal or accounting advice.
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