The Mega Backdoor Roth is a tax loophole that many affluent individuals take advantage of to put $69,000 into a Roth. If you are familiar with Roth IRAs, you know they are limited to only $7,000 a year in contributions ($8,000 if you’re over 50 years old) and they have income phase-outs. With the Mega Backdoor Roth, you can blow past this amount with no income limitations. The good news is that, while they are still allowed, anyone can implement this strategy with the right employer-sponsored retirement plan like a 401k. Let’s see how they work.

Key Topics:

• Basics of the Mega Backdoor Roth (02:56)
• Three Contribution Types (04:34)
• Real-Life Example of the Mega Backdoor Roth (08:03)
• Do Not Forget to Convert (12:57)
• Considerations around the Mega Backdoor Roth (14:27)
• Wrap-Up (19:27)

This Episode is intended to be financial education only and is not intended to be specific tax, legal, or investment advice. Please consult a professional for specific advice. Subscribe to our weekly planning insights newsletter: https://mdrnwealth.com/blog/ If you need specific advice you can contact us at Advice@mdrnwealth.com or at: https://www.mdrnwealth.com

If you're earning a substantial income and considering purchasing a home valued at $1,000,000 or more, this episode is tailored for you. We'll break down this decision from both cash flow and financial planning perspectives to help you cover your blind spots. You won't want to miss it!

Key Topics:

• Be Realistic about Your Income, For Better or Worse (03:30)
• Be Realistic about Your Career Path (05:19)
• It’s Okay to Wait (06:51)
• Case Study (08:14)
• Benefits of Owning (12:20)
• Scenarios of Income Cuts + Other Worst-Case Scenarios (15:08)
• What if You’re Too Aggressive with Your Decision? (19:47)
• Bottom Line: Be Realistic and Plan Strategically (21:30)

This Episode is intended to be financial education only and is not intended to be specific tax, legal, or investment advice. Please consult a professional for specific advice. Subscribe to our weekly planning insights newsletter: https://mdrnwealth.com/blog/ If you need specific advice you can contact us at Advice@mdrnwealth.com or at: https://www.mdrnwealth.com

When markets sell off, it can evoke an uneasy feeling. In what may seem like the blink of an eye, your portfolio, which may have previously shown significant gains, is now at a loss. So, what should you do? We'll break down six different tips and tricks to help you optimize your portfolio during this challenging time.

Your Guide to Tax Loss Harvesting: https://youtu.be/Goc-ZonDNLY?si=ZPA2RaspDIXYMICd

Key Topics:

• Markets Sell Off All the Time, How to React (00:58)
• Tip #1: Understand that Sell Offs Are Normal (02:03)
• Tip #2: Stay the Course with Your Investment Plan (03:59)
• Tactical Tip #1: Take Advantage of Tax Loss Harvesting (06:33)
• Tactical Tip #2: Buy the Dip (08:25)
• Tactical Tip #3: Tactical Roth Conversions (10:02)
• Make a Financial Plan, Take Strategic Action (11:51)

This Episode is intended to be financial education only and is not intended to be specific tax, legal, or investment advice. Please consult a professional for specific advice. Subscribe to our weekly planning insights newsletter: https://mdrnwealth.com/blog/ If you need specific advice you can contact us at Advice@mdrnwealth.com or at: https://www.mdrnwealth.com