Unpacking the Mega Backdoor Roth IRA

Admittedly, the “mega backdoor Roth IRA” is a mouthful of a term. I wonder who came up with it? It’s as if they took their cue from Barnum & Bailey’s Greatest Show on Earth.

Grandiose name aside, what is a mega backdoor Roth IRA, and what is it to you?

Are you a high-income earner, highly interested in stockpiling significant savings for your future retirement and/or legacy goals?

If so, you’ll want to know more about this high-flying retirement planning strategy. It can throw a powerful, tax-wise punch for savvy super-savers.

To understand how the strategy works, let’s unpack its parts.

Read the full article at Plancorp.