If you’re a high-income earner looking to maximize your retirement savings, you may have heard of the mega backdoor Roth strategy. This powerful 401(k) funding technique allows you to contribute significantly more to a Roth account than the standard limits would typically allow. In this post, we’ll break down what a mega backdoor Roth is, how it works, and the benefits it offers.
Not to be confused with Stephen Hawking’s seminal work “A Brief History of Time”, here you will find a short primer on the beloved workplace retirement savings plan, the 401(k). If you were born after 1980, you would think that these employer plans have been around forever, but in reality, the plan is a relatively new workplace perk.
Employee Stock Purchase Plans (ESPP's) are a form of employee benefit that offers a discount on the purchase of company stock. We are seeing them more and more in employee benefit plans. Should you be taking advantage of these plans? Should you prioritize them over funding your more traditional 401(k) vehicle? Let's dive in and explore!
16.1% of employers have cut matching 401(k) contributions in light of COVID-19. If this happened to you, or you're worried it could, here are our thoughts regarding the 401(k) from tax benefits to hidden fees and expenses. Should our unmatched dollars still be going here?
Supplemental group insurance can be a great way to add an extra layer of security in your life. However, like any form of insurance, you will need to weigh the costs and benefits of adding to your existing plans. This begs the question: is supplemental group insurance the right option for you?
It may seem counter-intuitive, but spending your Health Savings Account (HSA) contributions on medical expenses now could be a huge mistake. While medical expenses are a necessity, it could actually save you a lot of money to use your own funds to pay for healthcare costs, especially while you are young.