I've been reading about the Roth Backdoor conversion as my hubby and I are high income earners and cannot contribute to a Roth IRA directly.
These are our current investment assets:
Hubby 401K - 250K
My 401K - 370K
Inherited IRA - 110K
If we open a Traditional IRA and Convert to Roth, do any of the above assets apply to the Pro Rata Rule?
Also, I plan on leaving my job in two years. At that time I can roll my 401K balance into a Traditional IRA ... can I convert the entire amount to Roth at that time? Also, how does this change our investment status regarding the Pro Rata Rule?