A Safer Retirement and Environment – What We’re Implementing to Help Keep You Safe: READ MORE

Here at Chadmere Capital Inurance and Financial Services, we are adhering to state and local guidelines in order to protect both the health and safety of clients and staff. Keeping our clients and staff safe is our highest priority and we’re taking all appropriate measures to ensure a safe environment. Should you prefer to not meet face-to-face, we are continuing to serve our clients through virtual settings such as Zoom or phone calls.

We look forward to continuing to help individuals and families achieve their ideal retirements.

Chademere Capital Insurance and Financial Services
(803) 242-1050



By Sarah Brenner, JD
Director of Retirement Education
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I earn too much money and can’t do a Roth IRA. I have heard about the back-door Roth IRA strategy for those who earn more than the allowable contribution for the Roth IRA where they contribute to a traditional IRA and then roll over to a Roth IRA. Can this “back-door” analysis be used for the sole proprietor with no employees by contributing to a SEP IRA and then converting to a Roth IRA?


The back-door Roth IRA strategy is often used by those who have incomes too high to contribute directly to a Roth IRA. With this strategy, a contribution, usually nondeductible, would be made to a traditional IRA and then converted to a Roth IRA. Unlike Roth IRAs, traditional IRAs have no income limits for making contributions.

The same strategy could be done with a SEP IRA contribution by a sole proprietor. The SEP contribution could be made and then converted to a Roth IRA. The individual would need to pay taxes on the converted funds.


My spouse died last month, and she had a Roth IRA. I have read that I can combine it with my own Roth IRA. Could my credit union do a regular distribution and then roll the money over into my Roth IRA?


Our condolences on the death of your spouse. As a spouse beneficiary, you can do a spousal rollover and combine her Roth IRA funds with yours. This transaction can be done in a couple of different ways. While a 60-day rollover would be possible, it would likely be easier to have your credit union assist you in doing a direct transfer from the Roth IRA you inherited from your wife to your own Roth IRA.


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