The Mega Backdoor Roth IRA allows you to contribute after-tax 401k contributions and then roll them over into a Roth IRA.
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In today’s high-rate environment, a reverse mortgage should be used for a wide spectrum of financial planning purposes, like tax strategies, ROTH conversions, Social Security filing decisions, long-term care planning, portfolio optimization, and yes, debt consolidation. But to prevent consumer debt...
checking accounts, and financial assets. You may have a beautiful home or a vintage watch collection, but it will take time to sell those assets, potentially at a significant discount from their appraisal value. Your liquid assets should account for about 5% to 20% ...
If you put $6,000/$7,000 in a Roth IRA in a given year, you could not put any in a Traditional IRA that same year. You could put $3,000 in each, or any combination that adds up to the limit, but not more than. This is an area where 401k’s and 403b’s show more benefi...