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Being self-employed you have other options.  Like a sep-ira. Current limits are 25% of your net self-employment income or 70k whichever is smaller

There's also SOLO 401k, but that comes with employee restrictions.

if you don't presently have a roth...
folks who do not qualify for a Roth IRA should always do a  back door Roth contribution each and every year.


1. fund IRA to max. 
2. next day convert to a Roth.

Yep, that's what I need to start as we don't qualify. Unfortunately I don't know how I'm going to manage that before the 1st of the year so between my wife and I we'd miss out on $14K (I think) going into it for 2025... But I can shoot for that for 2026. 

just spread it out between a few credit cards

It's not a matter of not having the money (although I need to do a little to make it liquid), it's a matter of not knowing what the hell I'm doing and how to set it up properly... 

I think the ideal thing would be to set up the account, sell some of my holdings in my ETrade account that are long-term capital gains (15% tax, and only on the gain, not on the gross) which is below my marginal income tax bracket anyway (so it's better than using post-tax income to fund it). Put it into a traditional IRA and then immediately move into a Roth (backdoor). And then that helps me diversify my stock from only two companies I hold. 

Maybe some of the folks on the board can tell me if I'm completely stupid for thinking that's the optimal idea.

But the question I have is... What do I need to do to make this happen? Can I do this on my own via some online option (I think Vanguard)? Are there simple ways to do the backdoor Roth online without the use of a financial advisor? 

It's not a matter of not having the money (although I need to do a little to make it liquid), it's a matter of not knowing what the hell I'm doing and how to set it up properly...

I think the ideal thing would be to set up the account, sell some of my holdings in my ETrade account that are long-term capital gains (15% tax, and only on the gain, not on the gross) which is below my marginal income tax bracket anyway (so it's better than using post-tax income to fund it). Put it into a traditional IRA and then immediately move into a Roth (backdoor). And then that helps me diversify my stock from only two companies I hold.

Maybe some of the folks on the board can tell me if I'm completely stupid for thinking that's the optimal idea.

But the question I have is... What do I need to do to make this happen? Can I do this on my own via some online option (I think Vanguard)? Are there simple ways to do the backdoor Roth online without the use of a financial advisor?

I'd hire a fiduciary and let him/her handle it.

You have to file this form to move from traditional to Roth.

2024 Form 8606

LPL Financial | Investment & Wealth Management Nationwide
LPL Financial | Investment & Wealth Management Nationwide

My self-directed Roth is with Entrust in Oakland. Easy to deal with for sure. That's the one that holds our real estate in California.

The Entrust Group | Self-Directed IRA Services | Real Estate | Gold

Good to know both on the deadlines and the forms...

I've got a couple people I know who I can ask who they know and trust... But knowing I don't have to figure it all out before Dec 31 is a help... I feel like with everything else going on, I'd be pressured into too-quick decisions to do anything before then.

put as much into it as you can