Apr 9, 2021
In today's episode Nicholas Olesen, CFP®, CPWA® shares one of the best tools for retirement savings, the Mega Backdoor IRA. The team at Kathmere has found this to be a unique and not well known way to save into a Roth IRA even if you are over the income limit. In this episode he covers:
- How the Mega Backdoor Roth IRA contribution works
- The biggest mistakes people make when trying to do it
- How the prorata rule can void the benefit of a traditional Roth IRA conversion
- Flowchart we have used to help navigate the complexities of the Mega Backdoor Roth IRA contribution and also Roth IRA conversions
Please send us feedback and any topic or questions you would like us to cover. Email us at: nolesen@kathmere.com
Transcript and other information can be found at: www.kathmere.com