• Solo 401(k) Mega Backdoor Roth Guide

  • Sep 3 2024
  • Length: 12 mins
  • Podcast

Solo 401(k) Mega Backdoor Roth Guide

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  • Summary

  • The Mega Backdoor Roth is one of the most powerful strategies you can use to potentially contribute over $69,000 into a Roth IRA. But did you know that you can set this up in a Solo 401(k)? This week, we are going to break down how someone who is self-employed can set up their Solo 401(k) to be Mega Backdoor Roth compatible.


    Key Topics:

    • Prerequisites to the Mega Backdoor Roth (00:00)
    • Specialized Adoption Agreement (02:05)
    • Setting Up a Custom Adoption Agreement (03:07)
    • Setting Up the Proper Accounts (04:11)
    • An Example Once Accounts Are Set Up (06:05)
    • Frequently Asked Questions (08:07)
    • Wrap-Up and Getting Help (10:16)


    Resources:

    • The Ultimate Solo 401k Guide + Setting Up the Mega Backdoor
    • Roth FeatureSolo 401(k) Guide



    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

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