Hey everyone, it’s Finance Fridays. Today is just a quick post to remind everyone that’s a new year and it’s time for another Backdoor Roth IRA.

Backdoor Roth IRA

There are many other things I could write about today, but I think the most important thing is just to remind everyone to fund their Backdoor Roth IRA.

So if you haven’t started already, go ahead and get to it. As it stands currently, I think Vanguard still requires a 7 day wait period before you can convert after funding it, so better to do it sooner rather than later.

I think some people have already funded their IRA for 2020 in the last week of 2019, and then they can already for the conversion on January 1, 2020. However, I’m not in a huge hurry so I just waited for the new year to start.

I will likely fund our Backdoor Roth IRAs today and convert whenever I am allowed in the next few weeks.

TL;DR

New year, new Backdoor Roth IRA.

Go and get yours funded.

-Sensei

Agree? Disagree? Questions, Comments and Suggestions are welcome.

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