Did I misunderstand the “catch up” contributions for over-50s
Did I misunderstand the “catch up” contributions for over-50s Hello, I am wondering whether I made a big mistake with a catch-up contribution last year. I used the backdoor method to fund my Roth IRA last year (2023) and instead of $6,500, I funded $8,500. It was a new account with Fidelity last year. My logic was that those over 50 could fund $7,500 AND up to another $1,000 “catch-up”. But after double…