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Reply to "HYSA vs. 401k"
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[quote=Anonymous][quote=Anonymous]How can you do a backdoor Roth if you have an existing traditional IRA that was a roll over from prior employers 401k?[/quote] You would have to either roll the traditional IRA into a 401k (some plans allow this), which will have no taxes, or convert the IRA to Roth, in which case you will pay taxes. There are calculators online that let you estimate whether paying taxes on the Roth conversion is worth it given opening up the backdoor Roth.[/quote]
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