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505 | Mailbag: Getting Started with FI, Debt vs. Investing, Dividends, 4% Includes Taxes?, Roth 401k | Rachael Camp
ChooseFI
Ok - Backdoor Roth IRA Conversion and the Five-Year Rule
Many individuals misunderstand the backdoor Roth IRA process by believing it is subject to the five-year rule. However, this is incorrect. When performing a backdoor Roth IRA conversion, account holders can access their contributions immediately without waiting for five years. This key detail clarifies that the contributions can be withdrawn right away, providing flexibility in the use of funds.
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