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A comment on This 4×6 index card has all the financial advice you’ll ever need. Parent comment

Re:This 4×6 index card has all the financial advice you’ll e... by jcdavis on Monday September 16, 2013 @09:32PM (#6397066)
One can do a backdoor Roth conversion to get around that limit. (but you need to have no money in regular pretax IRAs to do so)
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Re:This 4×6 index card has all the financial advice you’ll e... by elasticdog on Monday September 16, 2013 @10:55PM (#6397315)
Well, you can have money in there...it would just be a taxable event when you do the conversion to a Roth, so you have to keep in mind that your taxable income will go up by the amount that you did not have a "basis" in.
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