Is the Mega Backdoor Roth Always the Best Option?
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LEARN MORE ABOUT: IRA Accounts
CONVERT IRA TO GOLD: Gold IRA Account
CONVERT IRA TO SILVER: Silver IRA Account
REVEALED: Best Gold Backed IRA
The one time I think it would make sense to convert pre-tax is if you have been a prolific saver in your pre-tax bucket and are going to get crushed with RMD late in life. That is the boat I’m in that I’d rather pay the tax now. My RMDs for my 401ks are projected to be in the 7 figures during my 80s., which is a way more than I need and will throw me in the highest tax bracket.
Also with your after tax conversions, you can roll the earnings into a rollover IRA, to delay having to pay any taxes during your normal annual tax fillings. You will have to pay the tax when you withdraw the money.
If you backdoor anything it will lead to a Sodom and Gomorrah event
I love the idea of the back door Roth
When I called my employer 401K provider, they told me my company’s plan does not allow after tax contribution. Does that mean this mega back door Roth option is not available to people like me?
Have you guys done any crypto videos yet? I hope you guys are heavily looking into them, love the show!