Inspire More! A Better Way To Navigate Wealth

Our expertise lies in developing and executing investment strategies that empower our clients to maintain unwavering financial stewardship and seize opportunities that arise in any market scenario.

Unlock your financial potential and secure your legacy with our comprehensive wealth management services.

Personalized Wealth Strategies

Tailored financial plans designed to meet your unique goals and expert guidance to maximize your wealth and minimize risks.

  • Diverse investment opportunity

    Access a wide range of investment options.

    A dedicated team of experts to manage and grow your portfolio.

  • Retirement Planning Excellence

    Ensure a comfortable retirement with our strategic planning. Safeguard your future with our retirement solutions.

  • Robust Risk Management

    Protect your wealth with our thorough risk assessment and mitigation strategies. Enjoy peace of mind, knowing your investments are secure.

Unlock the Backdoor to Your Retirement

Did you know that there's a remarkable strategy for high-income taxpayers to access the tax advantages of a Roth IRA without being hindered by income restrictions? The 'Backdoor Roth IRA' presents retirement planners with a solution to leverage the benefits of Roth IRAs in an IRS-approved manner, circumventing income limitations.

Here's a step-by-step breakdown of how you can make the most of a Backdoor Roth IRA conversion:

  1. Fund your Traditional IRA: You can fund an existing or new traditional IRA for this first step.

  2. Convert your traditional IRA money to a Roth IRA:

    With the guidance of an IRA administrator (or a financial advisor) you can complete this step and move money into a Roth IRA. You will receive the paperwork and instructions on this step from your financial advisor.

  3. Know your Taxes: You will be taxed when there is a taxable event, and your financial advisor will be able to help you estimate your tax bill. Only post-tax dollars move into Roth IRAs. When it comes time to file your tax return, be prepared to pay income tax on the money you converted to a Roth.

  4. Prepare to pay taxes on the gains in your traditional IRA:

    This is where moving quickly from a traditional IRA to a Roth can be to your advantage. Money moves can occur as quickly as the following business day so that gains are not accumulated within the traditional IRA before they are converted to a Roth IRA. If the money in that traditional IRA has been there awhile and there are investment gains, you will owe tax on those gains at tax time

In the end, by utilizing this backdoor entry into a Roth IRA, smart retirement planners can work towards having a healthy savings set aside in this key retirement account.


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Disclosure: Wealth Management services are offered through Legacy Wealth Management, LLC, a registered investment advisor with the Securities and Exchange Commission (SEC). Registration as an investment advisor does not constitute an endorsement of the firm by securities regulators, nor does registration indicate that an advisor has gained a particular level of skill or ability. The information contained herein is provided for educational purposes only and the information shall not be construed as a provision of personalized investment advice nor as a guarantee that a certain level of results will be achieved. All investment strategies have the potential for profit or loss and no investment strategy can guarantee positive returns. Under no circumstances should this information be construed as an offer to sell or a solicitation of an offer to buy any particular product or service.

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