Mega backdoor Roth IRA tax savings example

In this video, I'm illustrating the mega backdoor roth ira. I'm going over a few different examples on the Mega backdoor Roth IRA conversion strategy so you can see if it makes sense for you. While projections don't give the whole story of you retirement planning it can help set you in the right direction.

If you would like to run the same examples and customize it yourself, you can click on the link below. If you would like personal financial planning help please reach out to our office. Enjoy!

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Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decisions will help improve your life’s changing needs and objectives. Retirement, college planning, wealth building, social security, and career benefit packets are only a few of the financial decisions that you may face in your lifetime and we’re here to help guide you.

TRAVIS T SICKLE, CFP®, EA®, AAMS®, CRPC®, RICP®
CERTIFIED FINANCIAL PLANNER™

twitter: @travissickle

Sickle Hunter Financial Advisors
1646 W Snow Avenue
Suite 144
Tampa, FL 33606

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Information in this video is for educational and entertainment purposes only.
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#travissickle

[lkprasanna]

Nice video. Can you explain more on the catchup part? Is there a way to exceed the 57000 limit in 2020 because of catchup? Are the after tax $$ from 401k to roth IRA considered income for the taxable year? (even though they are after tax dollars for current tax year)

[clmp]

Great video! Do I have to max out the first 19k (in 2019) before I can contribute after tax $?

[johnwilliam]

The biggest issue is if your employer doesn’t provide u the ability to do a backdoor mega Roth. My employer (Calpers) allows only the 457 account. I’m over 50 so I max it out ever year. I can’t contribute to a Roth so there nothing else I can do. What do u suggest