My TC is >500K, already doing mega backdoor Roth 401k through Fidelity. Should I do backdoor Roth IRA as well? #personalfinance #investments
Yes. They're separate concepts unrelated to each other.
You make half a million a year and are too cheap to pay for a financial advisor to ask dumb questions to?
Why pay? Just do it yourself.
Yes definitely do it. It's easy and saves money
Is there a link someone can share for others to read the process? I had never heard of this
Did you roll the additional 45k after tax funds into Roth 401k or Roth IRA?
Doesn't matter. You can roll as much money into your IRA as you want, as many times as you want. Mega backdoor doesn't impact regular backdoor.
Yeah I was more curious about op’s strategy. It he was distributing the after tax into Roth 401k vs Roth IRA as I would assume moving it into Roth IRA would be a better option due to more investment options.
Brokeragelink
Tech Industry
Yesterday
1826
Net worth crossed 2.5 M today
Tech Industry
Yesterday
354
Would you die for Elon Musk if he gives your family 100M
Tech Industry
Yesterday
941
Why are boomers not retiring
Tech Industry
Yesterday
2070
How to handle unwanted male attention at work
Personal Finance
Yesterday
1643
Asking girlfriend of 5months to split bills went BAD
You mean you done with 66.5k for 2023 and want to contribute to additional 6.5k to roth?
Yep