You don't earn too much to contribute to a Roth IRA. This might be news to you, so let Mullooly Asset Management explain how you can contribute to a backdoor Roth IRA. The backdoor Roth conversion has been used by plenty of higher income individuals before.

1. Mullooly Asset Management Podcast
May 29, 2013
Mullooly Asset Management 2013

2. Roth IRA Conversion
“I make too much money to contribute to a Roth IRA”
No longer true
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3. Traditional IRA Roth IRA
Can be used to contribute to
Roth IRA’s if you make more
than Income Contribution
Levels
Single Filers
Up to $110,000 (to qualify for a full
contribution)
$110,00-$125,00 (to be eligible for
partial contribution)
Joint Filers
Up to $173,000 (to qualify for a full
contribution)
$173,000–$183,000 (to be eligible for
a partial contribution)
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4. Traditional IRA’s
Many stopped contributing to them
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5. Creation of Roth IRA’s
Taxpayer Relief Act of 1997
Senator William Roth of Delaware
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6. What’s the Difference?
Roth Contribution
Roth Conversion
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7. Back Door Roth Conversion
Contribute to a Traditional IRA
Elect to immediately do a Roth Conversion
Taxes on difference between: value of Traditional IRA
balance and amount converted
Do it again next year
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8. The Pro-Rata Rule
What is it?
Why is it important?
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9. None of the securities mentioned in this (or any) podcast or
video represent past specific recommendations of Mullooly
Asset Management.
This video is NOT a recommendation to buy or sell any of
the securities mentioned here.
If you’re relying on a podcast for investment advice, you are
likely making a huge mistake.
We strongly urge our listeners to consult with their
investment advisor before they make a decision to buy or
sell any investment.
Mullooly Asset Management 2013

10. Mullooly Asset Management, LLC
support (at) mullooly (dot) net
732-223-9000
www.mullooly.net
Mullooly Asset Management 2013