Hi everyone! This video is a bit different in that I have just learned about after-tax contributions to a traditional 401(k) and how it relates to a “Mega backdoor Roth IRA” so please keep this in mind when watching the video. This is still brand new to me so please double check and do your own research on this topic (i.e. do not take my word for it).
This video was created to help shed some light on this topic as it is not nearly as mainstream as some other financial methods (i.e. normal backdoor Roth IRA) and none of the financial books I have read addressed this topic.
So, I hope this video provides you with useful information and at the very least this video spreads awareness of the many different financial strategies you can take advantage of to help you save more, invest more and avoid any unnecessary taxes.
Please like and subscribe (if you’re new) if you found this video helpful and if you would like me to have a follow-up video on this, please let me know in the comments below :)…(read more)
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Like ur video tutorials guiden and explanation on how things should be in really sense. Thanks for that.
Nice video, I have realized something with young professionals nowadays, most of them don't have kids or are married. Do you like plan or having a family later on or you're more career oriented ?
love you❤
Please make a video to let us know how this works out for you. I don't completely understand how the "after-tax" contribution can be rolled over into a Roth account. For example if you want to move over 50k of after-tax contribution into a Roth IRA, can you only roll-over 6k per year for 50/6 years, or could you move the 50k after-tax contributions in one lump sum.
I've heard a lot about this in FIRE circles for a while now but never fully understood it… I can't say that I do fully understand it now but hopefully I'll learn more about how it works by the time I graduate