Are you looking for ways to maximize your tax-advantaged retirement savings bucket? (In other words, a savings bucket where both growth and withdrawals are tax-free!)

A mega backdoor Roth 401(k) might be what you need.

This week, Adam Scott, CFP®, delves into the ins and outs of a mega-backdoor Roth 401(k), a financial maneuver that can potentially help you supercharge your retirement savings. You will also learn how an IRA is different from a 401(k) account, and ways to optimize your retirement income strategy.

Adam discusses:

• Traditional vs. Roth accounts — what might be more suitable for your situation?
• A brief overview of 2024 contribution limits
• How to implement the mega backdoor Roth 401(k) strategy
• Benefits for high-income individuals, business owners, and those who’ve had a huge cash inflow (e.g., inheritance or selling a house)
• Potential “landmines” to look out for while implementing this strategy
• And more

Resources:

• Use Roth Conversions to Reduce Your Lifetime Taxes: Turning Financial Lemons Into Lemonade (Ep. 17)

Connect with Adam Scott:

• LinkedIn: Adam Scott
• LinkedIn: WellAcre Wealth
• WellAcreWealth.com
• Phone: 310-220-4946