TaTake full advantage of your Nike employee benefits.

You can fully leverage your Nike 401(k) by utilizing the Backdoor Roth provision. The Mega Backdoor Roth allows you to invest beyond the normal 401(k) limits. Contribute after-tax dollars and convert those dollars to Roth. Save more for your future while growing your retirement savings tax-free.

Video takeaways:

🟠2024 401(k) contribution limits:
— Under 50 years old: $23,000
— 50 or older: $30,500

🟠Nike Employer Match
— Match 5% of your annual salary. To receive the full match, you must contribute at least 5%.

🟠The Nike Mega Backdoor Roth
— Contribute after-tax dollars to your 401(k) – over and above the 2024 contribution limits.
— You can contribute 3% of your salary and bonus, up to $10,350.
— Convert the after-tax dollars to Roth.

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⏲️Timestamps

00:00 Introduction
00:11 2024 Nike 401k Contribution Limits
00:34 2024 Nike Mega Backdoor Roth

===========
RESOURCES FOR NIKE EMPLOYEES

📅 Get Started Today –

👥 Connect with Alex Krider, MBA, CFP®, EA

💡Learn more about your Nike Employee Benefits:
===========

👍LIKE this video? HIT the like button!
🔔SUBSCRIBE to our channel to view more videos @AvierWealthAdvisors

===========
More Videos You May Like:
▶️Top 4 Nike Benefits to Prioritize:
▶️Nike Deferred Compensation Plan:
===========

Avier Wealth Advisors
5200 Meadows Road
Lake Oswego, OR 97035
mailto:info@avieradvisors.com

We focus on providing comprehensive financial planning and investment advisory strategies for tech professionals and their families.

===========

Third Party:
Avier Wealth Advisors is not affiliated with Nike. There is no guarantee that the information we have provided is accurate. Nike employees are encouraged to contact their employer should they have any questions regarding their employee benefits.

Taxes: Avier Wealth Advisors does not prepare taxes. The tax ideas presented are meant to demonstrate general concepts rather than precise calculations. We consult with your tax professional for exact calculations.

#Nike #Employeee #Benefits #401k #NikeBackdoorRoth #NikeMegaBackdoorRoth #Nike401k #2024401(k) #2024NikeEmployee Benefitske full advantage of your Nike employee benefits.

You can fully leverage your Nike 401(k) by utilizing the Backdoor Roth provision. The Mega Backdoor Roth allows you to invest beyond the normal 401(k) limits. Contribute after-tax dollars and convert those dollars to Roth. Save more for your future while growing your retirement savings tax-free.

Video takeaways:

🟠2024 401(k) contribution limits:
— Under 50 years old: $23,000
— 50 or older: $30,500

🟠Nike Employer Match
— Match 5% of your annual salary. To receive the full match, you must contribute at least 5%.

🟠The Nike Mega Backdoor Roth
— Contribute after-tax dollars to your 401(k) – over and above the 2024 contribution limits.
— You can contribute 3% of your salary and bonus, up to $10,350.
— Convert the after-tax dollars to Roth.

===========

00:00 Introduction
00:11 2024 Nike 401k Contribution Limits
00:34 2024 Nike Mega Backdoor Roth

===========
RESOURCES FOR NIKE EMPLOYEES

📅 Get Started Today –

👥 Connect with Alex Krider, MBA, CFP®, EA

💡Learn more about your Nike Employee Benefits:
===========

👍LIKE this video? HIT the like button!
🔔SUBSCRIBE to our channel to view more videos @AvierWealthAdvisors

===========
More Videos You May Like:
▶️Top 4 Nike Benefits to Prioritize:

▶️Nike Deferred Compensation Plan:
===========

Avier Wealth Advisors
5200 Meadows Road
Lake Oswego, OR 97035
mailto:info@avieradvisors.com

We focus on providing comprehensive financial planning and investment advisory strategies for tech professionals and their families.

===========

Third Party:
Avier Wealth Advisors is not affiliated with Nike. There is no guarantee that the information we have provided is accurate. Nike employees are encouraged to contact their employer should they have any questions regarding their employee benefits.

Taxes: Avier Wealth Advisors does not prepare taxes. The tax ideas presented are meant to demonstrate general concepts rather than precise calculations. We consult with your tax professional for exact calculations.

#Nike #Employeee #Benefits #401k #NikeBackdoorRoth #NikeMegaBackdoorRoth #Nike401k #2024401(k) #2024NikeEmployee Benefits…(read more)

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2024 NIKE 401(k) and Mega Backdoor Roth: Boost Your Retirement Savings

As we head into the new year, it’s important to start thinking about our financial future and how we can maximize our retirement savings. For employees at NIKE, the 401(k) plan is a valuable tool for building a nest egg for the future. In addition, the Mega Backdoor Roth strategy can be a game-changer for those looking to supercharge their retirement savings.

The 2024 NIKE 401(k) plan offers employees the opportunity to save for retirement through pre-tax contributions, which can help lower their taxable income. Additionally, NIKE provides a generous matching program, giving employees the chance to receive free money for their retirement savings. It’s important for employees to take full advantage of this benefit by contributing enough to receive the maximum match. This is essentially free money that can help bolster one’s retirement savings over time.

However, for those who want to go above and beyond the traditional 401(k) contributions, the Mega Backdoor Roth strategy can be a powerful tool for boosting retirement savings. This strategy allows for after-tax contributions to a 401(k) plan, which can then be converted to a Roth IRA. This can be particularly beneficial for high-income earners who are limited by the annual Roth IRA contribution limits.

By utilizing the Mega Backdoor Roth, employees at NIKE can potentially turbocharge their retirement savings and create a tax-efficient source of income in retirement. This strategy is especially advantageous for those who anticipate being in a higher tax bracket in retirement, as Roth IRA distributions are tax-free.

It’s important for employees to work with a financial advisor or tax professional to ensure they understand the rules and implications of the Mega Backdoor Roth strategy. While it can be a powerful tool, there are rules and limitations that must be followed to avoid unintended tax consequences.

In conclusion, the 2024 NIKE 401(k) plan is a valuable benefit for employees to save for retirement. By taking advantage of the employer match and considering the Mega Backdoor Roth strategy, employees can supercharge their retirement savings and create a more secure financial future. It’s never too early to start planning for retirement, and by making smart choices now, employees can set themselves up for a comfortable and financially stable future.