Backdoor Roth and Mega Backdoor Roth Strategies
3,519
Published 2023-12-02
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Kevin Korhorn, CFP® offers securities through Silver Oak Securities, Inc., Member FINRA/SIPC. Kevin offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. KFG Wealth Management, LLC dba Korhorn Financial Group and Silver Oak Securities, Inc. are not affiliated. Mike Bernard, CFP® and Joshua Gregory, CFP® offer advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk, including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.
Intro: (0:00)
Segment 1: (0:11)
Break 1: (10:28)
Segment 2: (12:00)
Break 2: (22:16)
Segment 3: (23:19)
Break 3: (33:34)
Segment 4 (36:40)
Outro: (46:57)
All Comments (11)
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Thanks 😊 I’ve watched LOTS of videos about Roth IRAs. This is the first place I’ve heard an explanation of the difference between taxation of “After Tax growth” and “Roth growth “. Good Stuff
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Thanks for this show. I wish more people had an awareness of this strategy and knew to ask about it.
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I’ve had to do backdoor Roth for a number of years (spouse as well). I can’t stress from a planning perspective how much easier it is to save the following year’s contributions in a high yield savings and then use that entire amount in January of the contribution year to do the contribution and conversion. Also if you have an age gap between spouses it can make sense for the younger spouse to save into a Roth 401k since it’ll have more time to grow tax free before withdrawing. Even in a high tax bracket scenario the time may be more worthwhile than saving the tax up front. It’s so case by case though.
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how do you do the megabackdoor if you are self employed and above 60
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The AUM managers never tell you this before they tell you to rollover your 401k - most have a minimum portfolio which can’t be met when the bulk of one’s savings are in the 401k!
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do you have to convert 401k pre tax contribution as well when you move after tax 401k contribution to a roth IRA? is it better for solo 401k people to open a post tax 401k account and move the money immediately to Roth IRA to keep things separate?
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If you have a spectrum conservative fund in your traditional roth and you convert say 20k of spectrum conservative from the traditional ira does the converted amount go into the fund thst is already in the roth or is it a seperate fund in the roth?
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Here is the truly secret sauce in my employers plan: "Furthermore, you may elect to convert any portion of your After-Tax Contributions Account, or your future After-Tax Contributions, to Roth 401(k) Contributions at any time."
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True Dat Bruh….
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Way too much fluff to explain simple things