Welcome to the Friday Blog Roundup, something that I hope will become a weekly feature on SomeRandomGuyOnline. Here I plan on sharing articles covering a specific financial topic as well as some interesting personal finance posts that I came across during the week. I hope you enjoy!
Backdoor Roth IRA
I’m glad that I learned about the Backdoor Roth before I became an attending physician. I was able to hit the ground running and not have any missed contributions. There are already so many quality articles about the Backdoor Roth. Rather than reinvent the wheel and write my own post, I will instead share a few articles that I found helpful when I was first learning about this topic.
- BackDoor Roth IRA Tutorial from The White Coat Investor – My introduction to the topic, this post has a whopping 1,000 comments.
- Vanguard Backdoor Roth: a Step by Step Guide from Physician on Fire – A great tutorial if your accounts are with Vanguard.
- How to Report Backdoor Roth in TurboTax from The Finance Buff – I’ve done a Backdoor Roth three times now but can never remember how to input that stuff into TurboTax. Luckily, I have this excellent post to fall back on.
- The Ultimate Roth IRA Conversion Guide from Good Financial Cents – A pretty good summary of Roth IRA conversions with a section on the all-important pro-rata rule.
Personal Finance Blog Roundup
Regular readers know that one of my primary financial goals is to pay off my $300k of student loan debt. While that is certainly a hefty amount, there are others out there with even more. The engineer and dentist couple over at Debt Ascent talk about how they’re paying off over $500,000 of student loan debt.
Everyone knows that taking control of your finances can be tough. Sometimes you have to make painful decisions in order to cut costs, especially if you’re trying to save money and get out of debt. To that end, NinjaBudgeter talks about Why I Drive a $500 Car.
My experience with Wall Street and day trading is limited to the movies. That’s okay because I can live vicariously through these two bloggers. The Wall Street Physician tells us How Wall Street is Like a Game of High-Stakes Poker, while Stuart at Epic Quiver gives us his insight into the schedule of an active day trader.
Thanks for reading the first of what I hope will be many Friday Blog Roundups. Have a great weekend!