Backdoor Roth IRAs and Why You Should Be Funding Them.
If you have no idea what a Backdoor Roth IRA is, listen to this podcast. Seriously. You need to know what it is.
Most physicians should be using a personal and spousal Backdoor Roth IRA. Not only does this provide an additional $5,500 each ($6,500 each if you and your spouse are over 50) of tax-protected and (in most states) asset protected space, but it allows for more tax diversification in retirement. That allows you to determine your own tax rate as a retiree by deciding how much to take from tax-deferred accounts and how much from Roth accounts.
In this episode Dr. Dahle also answers listeners' questions about using a physician mortgage loan and prioritizing a mortgage versus paying off debt.
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