In this post you’ll learn how to get up to $120,000 into Roth retirement accounts (Mega Roth), annually. If you don’t already know the value and power of that – this is a must read. If you already know the value and power of Roth…you’ll read (devour) this without my saying so.
Roth 401(k)s & Roth IRAs: The value of Tax-Free Roth Money
If you invest in assets that generate high returns you know that Mr. Roth is your best friend. Unlike “traditional” tax deferred contributions to retirement accounts – for which you get a tax deduction up front, but pay your marginal income tax rate upon distribution – Roth contributions are taxable income in the year received, but grow completely tax-free thereafter. Tax-deferred vs. tax-free.
In addition, being that with Roth money the IRS receives their tithe up front, there are no required minimum distributions (RMDs) for Roth IRAs. This gives you complete flexibility with regard to those funds, allowing them to keep growing tax free and asset protected, indefinitely. Continue reading “Mega Backdoor Roth Solo 401k & Checkbook IRA”