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SUMMARY
A mega backdoor Roth is an incredible personal finance optimization where, if you qualify, you can put up to an additional $38,500 even after you max your normal 401(k). I will discuss whether this is an option for you and show you step by step how to set one up. This opportunity may only be available until the end of this year (2021) so if you qualify, start now!
Update 12/28
Looks like the bill squashing Mega Backdoor Roths (the Build Back Better bill) is likely to fail to pass the Senate. Keep you guys posted with any more news!
CHAPTERS
0:00 – Intro
1:38 – What are mega backdoor Roths?
4:01 – How can I set one up?
12:31 – Conclusion…(read more)
LEARN MORE ABOUT: IRA Accounts
CONVERT IRA TO GOLD: Gold IRA Account
CONVERT IRA TO SILVER: Silver IRA Account
REVEALED: Best Gold Backed IRA
When I pull up the vanguard website And click open an account there isn’t an option for after tax non Roth 401k. I even called December 31st and they said they do not have that option??
I am first time going to do this in 2022, but congress is going to close. is it really closed by government?
Why do you say 38,500.? You can do $58,000 in 2021.
I’m currently doing this and paying attention to the development of congress ending this in 2022. Please note that you have to convert to the Roth before 2022 not just contribute by 2022. Last thing you want is to contribute after tax money and not be able to convert to tax feee money.
So what time we doing back door ? Jk
Great video but for anyone watching it starts at 1:48
Thank you Jessica for this great tutorial!