Unpacking the Mega Backdoor Roth IRA
Are you a high-income earner, highly interested in stockpiling significant savings for your future retirement and/or legacy goals?
If so, you’ll want to know more about this high-flying retirement planning strategy. It can throw a powerful, tax-wise punch for savvy super-savers.
Part One: Making Basic Contributions
Part Two: Adding After-Tax Contributions
Part Three: Doing the Two-Step Mega Backdoor Roth
Part Four: Incorporating IRAs
The Sum of Your Retirement Planning Parts
How to Maximize Retirement Savings Using Your Company’s Employee Benefits Policy
3 Useful Company Employee Benefits Policies for High Earners
The most advantageous — and often overlooked — benefits companies offer employees that are particularly useful for high earners are mega backdoor Roth contributions, health savings accounts (HSAs), and deferred compensation. Here is a quick breakdown of each benefit:
1. Mega Backdoor Roth Contributions
2. Health Savings Accounts
3. Deferred Compensation
Leveraging the Benefits Companies Offer Employees Strategically