Dave Ramsey
👤 SpeakerAppearances Over Time
Podcast Appearances
Go to YRefi.com slash Ramsey.
That's the letter Y-R-E-F-Y dot com slash Ramsey.
Might not be in all states.
Good, good advice.
I like it.
So, you know, if you did a backdoor Roth IRA, um,
The way that works is you invest in an after-tax regular traditional IRA, not a pre-tax, an after-tax traditional IRA.
And this year that's $7,500, okay?
And you can do one for your wife and one for you.
And then as soon as you make that investment, instantaneously you roll it to a Roth.
And you can do that regardless of income limit.
So I did one.
and I have done one every year for many, many years, and my wife every year.
I do it in January, put $15,000 up, boom, boom, and here we go.
Actually, I can do $8,000 because I'm old, $8,600 now, $8,600 this year.
That's right.
So I max them out, whatever I can put in there.
That's the most you can do with a backdoor IRA.
If you want to get super fancy, you can do a brokerage account beyond that.
I don't know what your income is.