Roth IRA Headaches to Avoid

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 [email protected] and we might feature it in an upcoming show!