Opened traditional IRA account with Vanguard for the backdoor IRA. Do I have to buy funds before I convert to Roth IRA? Can someone pls help. Noob here.

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No, you don’t. Just keep in the settlement fund and then convert ASAP. You’ll likely still have some capital gains though, which you need to take care off next year when you file taxes

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No. Make your contribution, then once they settle perform a conversion to your Roth ira

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Thanks folks. Any recommendation on what to buy once I convert to Roth IRA and how this process will save me taxes ?

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