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Mark’s 12 Strategies for your 401k in 2023:

1.You can have 2 or more 401ks. They are just vehicles. The limits are spread out over the vehicles you have.
2. You can invest your 401ks in what you know! Not just WallStreet products (however, your day-job 401k may limit you, NOT YOUR personal 401k)
3. You can contribute up to 81k (50 or older), or $72,500 (50 or younger) into a Roth 401k and Roth IRA this year in 2023!! It’s called the Mega Back Door Roth (
4. You can have a solo-401k in your own small business side hustle (no employees).
5. If you have employees, the Group 401k is NOT as expensive as you think. It’s called the Safe Harbor 401k
6. Get your Match at work. A 100% return up to the match amount is crazy good! AT LEAST participate up to the match.
7. IF you can put in more than the match at work, do the “match and out” strategy. Put in your match and then get out and do your HSA and Personal Roth IRA. You can invest in what you want and THEN if you want to put more in your day job 401k, go back and participate.
8. Make your contribution at work or in your solo-401k Roth. The Roth kicks butt over the long haul EVERY time!
9. Ask your Employer to do the “Match” as Roth money. Secure 2.0 Legislation passed last year allows you to ask your employer for Roth matching.
10. You can do a ‘after tax’ contribution at work in your 401k. No write-off, but then you convert to Roth on day 2 and pay no tax. This is part of the Mega Back Door Roth Strategy.
11. Consider the Side-Door 401k. If all you have is rental income from real estate, you can set up a sister company to hire you and give you a 401k.
12. Get your family in the mix. Only put your spouse on payroll to fund a 401k (not for social security) and get your kids in the business funding their 401k as well and THEN investing together.

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Mind Blowing 401K Strategies for 2023: Secure Your Retirement

As we enter the new year of 2023, it’s important to revisit and assess our retirement plans. One crucial aspect that should be on everyone’s radar is the 401K strategy. The 401K is a retirement savings plan offered by many employers, and understanding how to make the most of it can have a significant impact on your financial future.

So, let’s delve into some mind-blowing 401K strategies for 2023 that can help secure your retirement:

1. Maximize employer match: One of the most incredible advantages of a 401K is the employer match. Employers often contribute a percentage of your salary to your 401k account. Take advantage of this free money by contributing enough to receive the full match. It’s like an instant return on your investment!

2. Increase your contributions: It’s time to rethink your monthly 401K contribution. As we step into 2023, evaluate your financial situation and consider increasing your contributions. By contributing more each month, you can accelerate your retirement savings and take advantage of the power of compounding.

3. Utilize catch-up contributions: If you are 50 years old or older, you can make additional “catch-up” contributions to your 401K. In 2023, the catch-up limit is $6,500, in addition to the regular contribution limit of $19,500. This strategy can help bridge the retirement savings gap for those who may have started saving later in their careers.

4. Consider a Roth 401K: If your employer offers a Roth 401K option, it might be worth considering for 2023. With a Roth 401K, your contributions are made after-tax, meaning you won’t be taxed on your withdrawals in retirement. This strategy can be particularly advantageous if you expect your tax bracket to increase in the future.

5. Diversify your investments: 2023 calls for a renewed focus on diversification within your 401K. Instead of placing all your eggs in one basket, consider diversifying your investments across different asset classes, such as stocks, bonds, and even international funds. This approach can help reduce risk and increase potential returns.

6. Regularly review and rebalance: Don’t just set and forget your 401K. Regularly review your investments and make adjustments if necessary. The market can fluctuate, and this can impact the allocation of your funds. Rebalancing periodically ensures that your portfolio remains aligned with your long-term goals.

7. Seek professional advice: If navigating the world of 401Ks seems daunting, it may be wise to seek professional advice. Financial advisors can assess your unique situation, recommend personalized strategies, and guide you towards a secure retirement. Engaging an expert can give you the confidence to make well-informed decisions.

In conclusion, 2023 presents an opportunity to optimize your 401K strategy and secure your retirement. By actively implementing these mind-blowing strategies, such as maximizing employer match, increasing contributions, utilizing catch-up contributions, considering Roth 401K options, diversifying investments, regularly reviewing and rebalancing, and seeking professional advice, you can take control of your financial future. Remember, it’s never too early or too late to start planning for a prosperous retirement.