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Backdoor Roth, a tax strategy favored by the rich, survives in Democrats’ latest plan
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cnbc.comA retirement tax strategy favored by the wealthy survived in Democrats' latest social and climate spending plan, after an earlier version had it on the chopping block.
So-called backdoor Roth strategies are a way for the rich to skirt income and savings limits that apply to Roth individual retirement accounts.
At its simplest, the strategy involves an investor contributing money to a non-Roth account and then converting it to a Roth IRA.
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Roth IRAs yield two big benefits for the affluent: Neither investment growth nor
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