Roth IRA Headaches to Avoid
Episode description
Roth IRAs are a fantastic tool for building tax-free retirement wealth, but they’re not without their pitfalls. Uncover common Roth IRA mistakes, like contributing too much, missing key deadlines, or triggering taxes you didn’t expect — and how to avoid them. Already made a misstep? Don’t worry. We’ll walk you through how to fix these mistakes, from recharacterizing contributions and correcting excess contributions to handling IRS notices.
Key moments:
(04:35) Why a Backdoor Roth IRA might be right for you (and the new 2025 phase-out limits)
(10:01) The five steps to completing a Backdoor Roth IRA
(16:32) Common Roth IRA mistakes and how to fix them
(19:27) The Pro Rata Rule and its potential tax consequences
(24:57) Strategies to avoid taxable conversions
Like the show? There are several ways you can help!
- Follow on Apple Podcasts, Spotify or Amazon Music
- Leave an honest review on Apple Podcasts
- Subscribe to the newsletter
Feeling helpless when it comes to your student loans?
- Try our free student loan calculator
- Check out our refinancing bonuses we negotiated
- Book your custom student loan plan
- Get profession-specific financial planning
Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!