How to Contribute to Backdoor Roth IRA on Charles Schwab vs. Fidelity (Step-by-Step)

In this video, I will talk about how to contribute to the Backdoor Roth IRA (step-by-step) for high income earners through both the Charles Schwab and fidelity brokerage platforms. I’m going to cover 3 steps 1) transfer money into traditional IRA 2) convert from traditional IRA to Roth IRA 3) invest your money (to be addressed in future videos if people are interested). Caution: be aware of the pro-rata rule if you have money in both Traditional and Roth IRA. **RECOMMENDATION** Subscribe to my channel for more FIRE videos:    / yingcredibletips   Sign up for Charles Schwab: http://www.schwab.com/public/schwab/n... Sign up for Fidelity: https://rewards.fidelity.com/offers/f... _________ **WHAT TO WATCH NEXT** How to Set up Traditional IRA and Roth IRA (Backdoor):    • How to Set up Backdoor Roth IRA with ...   Mega Backdoor Roth Step-by-Step:    • How to Set up Mega Backdoor Roth with...   How to Become a Millionaire:    • How to climb the Retirement Ladder in...   _________ **DISCLAIMER** This content for my video is for education and entertainment purposes only. You should use your own discretion to follow any advice as described in this video. This description may contain affiliate or referral links that allow you to find the things mentioned in this video and support the channel at no cost to you. #backdoorrothira #fidelity #charlesschwab #fire #retirementsavings #rothira #rothcontributions #rothconversion #tutorial #retirementbroker #investment #taxfiling #proratarule