Adam Talks – Is the Backdoor Roth IRA Still Legal in 2022?

In this episode of Adam Talks, IRA Financial’s Adam Bergman Esq. discusses the Backdoor Roth IRA, a solution for high income Americans to get funds into the tax-advantaged account, and whether or not it is still a legal strategy in 2022.

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About IRA Financial:

IRA Financial Group was founded by Adam Bergman, a former tax and ERISA attorney who worked at some of the largest law firms. During his years of practice, he noticed that many of his clients were not even aware that they can use an IRA or 401(k) plan to make alternative asset investments, such as real estate. He created IRA Financial to help educate retirement account holders about the benefits of self-directed retirement plan solutions.

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Warren Buffett and How He Became a Billionaire

Mr. Warren Buffett is the only billionaire in Forbes list of 400 of the richest men in USA that made all his money solely by investing in stocks. Warren Buffett built his empire by using other people`s money in a limited partnership with less than a 100 people, he took a 25% share of the profits, that’s how he became a billionaire.

EFTs – Financial Engineering Gone Awry?

An ETF is according to the NYSE, an open-ended investment companies or unit investment trusts registered under the Investment Company Act of 1940. The benefits included lower costs, intraday trading, short positions, tax deferral and access to commodity, currency and emerging markets. What more could an investor want? Leave it up to Wall Street to take a good thing and let the zeal for profits create unforeseen pitfalls for unwary investors and an unprepared securities industry. The latest generation of ETFs has given us investments that are leveraged and inversely correlated which do not track indexes over time and commodity investments subject to the risk of “contango.” The investing public is at risk without a financial adviser who can provide advice about these new financial products.

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The toll of failed broker dealers is mounting for the solicited sale of Private Placements in Provident Royalties and Medical Capital Notes. For the broker dealers who marketed these offerings and shirked their due diligence responsibilities ahead of the Private Placement Offerings, they now find that they are stuck with the much higher cost of making investors whole for their losses. However, the lessons learned by investors comes at a great price. Many broker dealers caught in the maelstrom of litigation have chosen bankruptcy to avoid investor claims.

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