Retirement plans are really complex...maybe more complex than they should be?
In this episode, Aaron and Trishul discuss a variety of the most common retirement plans. In exchange for substantial tax benefits, investors need to navigate a myriad of rules and restrictions. Aaron and Trishul discuss small business plans, including SEPs, SIMPLEs, and Solo 401k's. They then dig into bigger business plans, including 401k's, 403b's, 457's, and TSP's. By the end, you'll understand how non-Roth after-tax voluntary contributions can allow you to shelter close to $60k a year through a Mega-Backdoor Roth conversion.
Episode References
MMS #30: How to unlock the power of the Roth IRA
IRA Rollover Chart
Small Business Retirement Plans
IRS Rollover Chart
COLA Increases
401k vs 403b vs 457
IRS comparison of 457 and 401k
Nondiscrimination Test
Pros and Cons of rolling over your 401k
Individual K
Backdoor Roth
Podcast Description
Welcome to The Mind Money Spectrum Podcast where your hosts Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Financial Planner from the Bay Area, and Trishul is a Wealth Manager on the East Coast. For more information about Aaron, check out GraystoneAdvisor.com. And for more information on Trishul check out InvestingForever.com. We thank you all for listening, and stay tuned for our latest episode on our website, MindMoneySpectrum.com.
Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Bay Area Financial Planner with GraystoneAdvisor.com, and Trishul is an East Coast Wealth Manager (InvestingForever.com). MindMoneySpectrum.com and YouTube.
