Backdoor Roth IRAs seem to be in the spotlight as much as some Hollywood celebrities these days, especially with the threat that Congress will do away with them. But until that happens, this approach remains a key financial instrument in advisors’ retirement toolkit.

Recently, Christine Benz -— Morningstar’s director of personal finance -— revisited the topic and looked at key mistakes to avoid with these products. Her list included:

1. Not looking at the pro-rata rule,
2. Not taking advantage of the escape hatch,
3. Investing the traditional IRA in long-term assets and letting it sit,
4. Not converting serially,
5. Holding off on the conversion because of legislative risk.

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