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How do you bypass the 25/20% rule, put employer contributions as roth, and what is the optimal payroll and why is it less than the total roth?
What if you have an existing roth?
Is there any comment here that doesn’t include a What’s App number?
I was told that my ROTH inside my plan (401K) is not transferable to another ROTH and even the contribution is not accessible until 59 1/2 What am I missing? EDIT: Checked with TR Price and the plan does not allow "In Service Distribution", what other options do I have?
Mark been following you for like a year, I m a employee w-2 making less than 50k
Now I have Roth IRA with stocks ,
My employer offer 401k 50% match
Next year 75% and 100 on 5 years
Is not Roth 401k.
I confused also with my personal back door (after tax)
I should open a ira tradicional and deposited let say 20k as soon is done , on top of mi 6k on Roth IRA
Now I can convert all or a part of those 20k into my Roth IRA
Did I get that right?
Now I can also roll over my 401k in the same Roth IRA and imagine will be a paying same taxes you know Uncle Sam ,
Or I should keep putting the max to match my employer and leave along till retirement
Please let know is 2 thing my personal and my job w-2 less than 50k a year
My wife and I want to do this. Her work 401k is with vanguard and was almost 100k. Can that be converted to Roth for 2022? I would be just getting started myself, and I already have a Self Directed Roth at Directed – KKOS handled the legal side of that for me in Nov 2021.
Mark is the Roth king
If it's all after tax, what's the point for those that don't have years to accumulate investment gains?
The Market has been pretty bad until today it decided to surge. Everybody was Practically Crying then. It kept dipping. That's what you get when you feel you can navigate the process on your own. Big thank to Hilder Ferguson. I'm not bothered with how bad the Market is because my assests are insured due to her advice and I still receive my profits
This sounds good…but they have glossed over a number of hurdles that 95% or more of ppl would not be able to get past. I have been a CFP for over 26 years and making this work is going to be impossible for most people. Once again “buffet” advice for individuals.
Can I do this mega contribution for a 3 year old???
Is the Mega Backdoor Roth IRA only available, if your company does a 401K match? What are the opens of employees who's employer does not do a 401K match
Where does SEPIRA fall in all this? Convert to Traditional Roth IRA? And then $27k into my solo Roth 401k. Then do all funds following this go through the sep to solo Roth 401k channel?
I am earning more this year because I have been investing while working at the same time. I invested through PRISCILLA DEARMIN-TURNER, same woman that an anchor kept mentioning on CNBC, and made multiple of my start up capital within three months . She lives here in the USA and she is licensed
Did I hear correct that you can convert 401k employer contributions to a ROTH while still an active employee with that company?
Note that if you are planning an early retirement (before 59.5 y.o.) , you do NOT want all your saving in ROTH. For early retirement you can take fixed early withdrawals from traditional (rule 72t) before 59.5 but you can’t do that from a ROTH.
It looks great. When I first read about millionaire Roth IRAs I was like that’s awesome, but it’s not really cause let’s say you get lucky in an investment or do well you still will get hit with estate tax at a certain level when ya die. It’s why zuckerberg moved his shares into a grat. But it’d been even better to move em into a GST with your generation transfer tax exemption so you and your kids will
Avoid estate taxes which truly are unconstitutional if you think about it. Estate taxes are direct taxes. The 16th amendment changed the constitution so income taxes are fine. But it didn’t change all direct taxes. The constitution says direct taxes should be apportioned among the states. It’s absurd it’s been like a hundred years and there’s still nothing done about the unconstitutionality of that. It’s great for lawyers and accountants and politicians but it’s still illegal cause they never changed the constitution. They just say it’s legal and sadly no one has contested it so there’d be an amendment or force congress to change the law.
Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works.
If solo401k, can you contribute even more by matching in a Roth? Or if you’re going this way should you not offer yourself a match?
I recently discovered your channel and love it! At some point could you talk about continuing education and if there is a way to deduct this if self employed? If I have an s corp for professional services and I’m considering doing a masters in that field (not necessary to have but nice to have). Can this count as an expense or are there rules around this?
From my experience as an investor, crypto is literally the best thing out there. It’s high risk but the returns can be insane. What would take a Roth IRA 30 yrs to accumulate, crypto can literally do it in 1 yr
Guys are annoying with out straight to the point.
Please correct me if I am wrong, you have to have a 401k first before you can contribute to a Mega backdoor roth ira?
Great info, thank you.
My advice to new investors: Buy good companies stocks and hold them as long as they are good companies. Just do this and ignore the forecasts and market views which are at best entertaining but completely useless
IS THIS a money grab vid??? or I didn't understand the upper 3rd of the cylinder?? HOW TO TAKE advantage of the upper 3rd cylinder if I am W2 "day job salary" dude ? At what time this vid explain that???? thanks.
This back door Roth IRA has to be converted from the company sponsored 401K, right? How we do it if my company doesn’t sponsor this conversion?
what about if i work for a municipality that participates in the NYSLRS and I also contribute to the NYS Deferred Compensation Plan which is a 457(b) plan. Is there something I can do? I left out that I am 56
Despite the economic downturn,I'm so happy☺️. I have been earning $ 60,000 returns from my $7,000 investment every 13days.
The best strategy to use in trading crypto is to trade with professional who understands the market quite well,that way maximum profit is guaranted
Great message, if only I had enough time to carry it out, I'm turning 56 by April and I'm basically starting my life over after a lengthy divorce, my goal is to make a couple millions for retirement, any idea what would be the best step to achieve this goal.
Having a 2 year old with a ROTH IRA cause they work in the family business
Every financial goal requires patience, dedication and consistent spirit knowing that investment is currently the most lucrative business in the world, both NFT, real estate and Crypto shares are really positively changing people's lives.
Very confused. Retired & have 401s from which I am now drawing RMDs. Have no earned income.
So can i covert some of 401 to IRA then convert that to Roth?
& are limits the mega roth back door limits?
Putting gains in a roth so you dont pay taxes?
People try and save on taxes now by putting money into 401k non Roth, then you do the conversion to the back door Roth and pay taxes and penalties if under age 59 1/2. Just put all you money into Roth in 401k. RMD’s that you pay at age 72 or 75 increase the older you get in non Roth 401k. The government has already found all the loop holes on people not paying taxes. Come on people. You will always pay taxes now or later. Just put in Roth and forget about it. Lol
The best investment one can do right now is investing on Forex trading though stocks are good but ever since I swapped to Forex, I've seen so much difference
Can anyone answer this question? When moving your after tax contributions from your 401k to the roth ira do you also have to move pretax amounts to another account?
You sound like I need to have an S-corp on the side of my W-2 job to make this work? Are you sure that my employer will let me redirect monies at day job with a 401k?.. HR typically has rules against doing that, no?
Also – If I have a traditional IRA, can I transfer it to my employee ROTh 401K and avoid taxes or will i need to transfer it to an employee Traditional 401K?