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Mailbag | Backdoor Roth IRA, 4% Rule & 401k Strategies for Retirement Planning | With Rachael Camp | 521

ChooseFI

INSIGHT

Roth Conversions & Tax Revenue

  • Congress prioritizes immediate tax revenue, evidenced by required minimum distributions and rules for inherited IRAs.
  • Roth conversions offer a way to accelerate tax collection, though strategic planning can minimize the tax burden.
  • The "backdoor Roth IRA" loophole allows higher earners to contribute to Roth IRAs, contradicting the original intent.
  • Either this loophole should be closed, or income limitations on Roth IRAs should be removed, especially given the relatively low contribution limit.
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