[quote=SK in CV]Seems like you found the right answer. The “backdoor” Roth is a great vehicle for SOME people. Others, not so much. For those with no IRA accounts of any kind, it’s perfect. If you have any assets in a pre-tax IRA (of any sort, including SEP and SIMPLE IRA’s) it just doesn’t work.[/quote]
So I guess the answer is “backdoor” Roth isn’t illegal in itself. It’s just it’s conditional if you have other IRA accounts or not…
I don’t understand why the IRS would classify IRA differently from a 401k. It just seems a little weird.
I mean, I checked with my employer, and if I wanted to i could rollover all of my IRA’s into my 401k..And then I think I would be fine if I really wanted to do that..
But the reason why I don’t want to is I don’t like my employer’s 401k fund selection….
