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A comment on Peter Thiel turned a Roth IRA into a $5B tax-free piggy bank. Parent comment

Re:Peter Thiel turned a Roth IRA into a $5B tax-free piggy bank by jeremy_k on Thursday June 24, 2021 @06:02PM (#27624424)
It's called Backdoor Roth Contribution [1]. It only really works if you don't have any normal IRA accounts.

1 - https://www.investopedia.com/terms/b/backdoor-roth-ira.asp

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Re:Peter Thiel turned a Roth IRA into a $5B tax-free piggy bank by vitus on Thursday June 24, 2021 @08:47PM (#27625836)
The backdoor Roth didn't exist until 2010; Thiel's initial contributions were in 1999.

https://en.wikipedia.org/wiki/Tax_Increase_Prevention_and_Re...

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