I'm 44 with $1 million in my 401(k), IRA and Roth IRA. Since my total household is above the threshold for investing in a Roth IRA, I have been considering employing the backdoor Roth IRA tactics. Story ContinuesContributing to a Roth IRA is subject to annual income limits: if your income exceeds $161,000 in 2024 and you file single, you aren't eligible to contribute to a Roth IRA. However, you can contribute to a traditional IRA or 401(k) and then do a Roth conversion via a legal loophole known as the backdoor Roth IRA. I Want a Backdoor Roth IRA, But I Don't Know Where to Start appeared first on SmartReads by SmartAsset.