IRA Financial’s Adam Bergman Esq. discusses the Mega Backdoor Roth 401(k)structure and debunks myths about the strategy.
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About IRA Financial:
IRA Financial Group was founded by Adam Bergman, a former tax and ERISA attorney who worked at some of the largest law firms. During his years of practice, he noticed that many of his clients were not even aware that they can use an IRA or 401(K) plan to make alternative asset investments, such as real estate. He created IRA Financial to help educate retirement account holders about the benefits of self-directed retirement plan solutions.
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I’d be curious to hear more about this ERISA test that’s an obstacle. I’ve done Mega Backdoor Roth 401k at a company with 70k employees, and I doubt even 200 of us were participating (based on general lack of awareness on internal financial forums).
Similarly, I’ve had colleagues check at other large and small (100 people?) companies and all have had the option to contribute to After-tax 401k (in addition to Roth). So, somehow they’re passing the test.
hey adam- If I own a investment prop, how can I collect rental income such that I open a solo 401k and do a megabackdoor roth ? Is that possible