Hi everyone, my wife and I are above the income threshold for a Roth IRA and I have heard of the backdoor Roth IRA method.
I can google the steps to do this, but have been unable to find an answer on what my actual limit is to do this. Can I invest 14k into one account or do my wife and I need two separate accounts of 7k each?
Also is this process hard to accomplish? From what I’ve seen the answer is no it’s pretty simple. Also, any recommendations on good apps/companies to maintain the Ira’s through?