I've been meaning to explore the Backdoor Roth IRA thing for a couple of years now and am determined to do it this year! Can someone explain the step by step instructions to me, on say 5th grade level as I find all this stuff to be rather complicated?
Also want to make sure I am eligible to do this (not sure who isn't...): in short, I am employed with a maxed out 457 plan and self-employed with max contributions to the solo 401k. I use Vanguard for the solo 401k.
Would love to hear some simple instructions, info on deadlines, limits for contribution and whatever else you think might be help to a simple person.
Thanks!
Also want to make sure I am eligible to do this (not sure who isn't...): in short, I am employed with a maxed out 457 plan and self-employed with max contributions to the solo 401k. I use Vanguard for the solo 401k.
Would love to hear some simple instructions, info on deadlines, limits for contribution and whatever else you think might be help to a simple person.

Thanks!
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