A short YouTube talk by Craig Wear, CFP® addressing President Biden’s budget proposal which would limit backdoor Roth conversions for high-income earners. Wear argues the proposed limitation 'doesn't matter' and promises to explain better alternatives for moving money into tax-free accounts without buying products or changing advisors.
By now, you probably read in the news in a variety of places that President Biden's new budget proposal has a limitation in there that they want to, they want to get through Congress where you can no longer do a backdoor Roth if you're a high income earner. And what I'd like to explain today is why this really doesn't matter. There's so much better way to get money over to tax free accounts without buying products or changing advisors or anything drastic like that.
