Are you missing opportunities to build tax-free retirement income? In Part 2 of this Roth series, we break down the latest changes and advanced strategies that could significantly impact your retirement plan. You’ll learn how the new Roth catch-up rules affect those 50 and over, what the Roth NEC means for high earners, and how the mega backdoor Roth works in practice.
We cover the most common questions about backdoor Roths, including the pro-rata rule and why having other IRA balances could trigger an unexpected tax bill. You’ll find out when you may be heading toward a future “tax bomb,” how much you can defer into your 401(k), and why just because you can use a mega Roth strategy doesn’t always mean you should.
What You’ll Learn In Today’s Episode:
- New IRS Roth catch-up changes.
- How the Roth NEC works.
- The 80% income deferral rule explained.
- How the mega backdoor Roth functions.
- Who should consider Roth contributions.
- When estimated tax payments are necessary.
- 401(k) contribution limits and strategy.
- Why Roth isn’t always the right answer.
Ideas Worth Sharing:
- “You have to live today, but you always have to plan for the future.” – Nolan Clark
- “Every financial decision is unique, so you do have to consider your own personal situation.” – Nolan Clark
- “Anyone, regardless of income, can contribute to an IRA. They just can’t deduct it from their taxes.” – Charlie Mattingly
Resources In Today’s Episode:
- Charlie Mattingly: LinkedIn
- Nolan Clark: LinkedIn
- The Pilot Wealth Index
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