How to FIX Backdoor Roth IRA Screw-Ups
There are 6 easy steps to successfully contributing to the backdoor Roth IRA but lots of mistakes are still made in the process. Here's how to fix them.
There are dozens, if not more, ways to save for retirement. It ranges from employer-assisted accounts like 401(k)s and 403(b)s to self-funded vehicles like IRAs and HSAs. Learning about retirement accounts is paramount to good financial literacy.
There are 6 easy steps to successfully contributing to the backdoor Roth IRA but lots of mistakes are still made in the process. Here's how to fix them.
Dave Ramsey says raiding retirement accounts to pay off debt is dumb because it's like borrowing at 34%. Well, yes and no.
Not sure which types of retirement accounts you should use? Here's all the information together in one place so you can get a grip on your retirement plan.
Those who suggest doctors in their peak earnings years should make Roth 401(k) contributions, do Roth conversions, or worse, avoid tax-deferred accounts altogether are either ignorant or selling something.
Take advantage of the window of opportunity between accumulation and distribution in retirement. Use partial Roth conversions and keep more of your money.
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Qualify for the new pass-thru business (199A) deduction? You may have a new reason to use the Mega Backdoor Roth IRA for big tax protection.
Don't kid yourself, there is no free lunch associated with a 401(k) loan. Find out why savvy investors rarely use them.
Today's podcast discusses cash balance plans, getting better returns with a 529, staying in a bad job for PSLF, and lots more.
If you have a lousy 401(k) or 403(b) plan you don't need to be stuck with high, hidden fees and poor investment choices. Here are 6 things you can do to get a better employer retirement plan put in place.
Overcontributing to a Backdoor Roth IRA is just one of many common mistakes I see. Advisors and accountants can miss these details so you'll need to understand them. Learn how to identify the problem and how to fix it.
Questions about lifetime limits on 529's, savings for short-term purchases, a cautionary tale about managing student loans and a whole lot more from my inbox.
Lots to discuss today about 401(k) loans, solo 401(k)s, convincing an employer to switch out of a crummy 401(k), and still answering questions about the backdoor Roth IRA.
Lots of docs are severely limited in their retirement account availability. That's okay. You can always invest more in taxable.
There are many pitfalls when setting up a retirement plan for a small practice, but you can minimize them by using independent TPAs, recordkeepers, and advisors and by avoiding asset-based fees.
Some people don't like investing in index funds in retirement accounts. I don't have a problem with a little marketing hype, but when the facts are wrong I'm going to call you out on it.
Medical school may not have taught you about money, but we will.
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