Is There a Backdoor Roth IRA?

Samara Papajal: Currently, I'm using a traditional IRA which acts as a holding account. And I only have one Roth IRA. There's two ways to get money into a Roth. You can contribute or you can convert. Conversion is moving money from an IRA to a Roth paying tax on the conversion. If you find yourself in a low tax bracket year, for whatever reason, maybe instead of just humming and hawing about how you didn't make any money that year... consider a Roth conversion.