An ex-Meta employee and FIRE blogger explains how he used the 'mega backdoor Roth' strategy that allows high-earners to bypass Roth IRA income limits and contribute up to $69,000 in a 401(k)

An ex-Meta employee and FIRE blogger explains how he used the 'mega backdoor Roth' strategy that allows high-earners to bypass Roth IRA income limits and contribute up to $69,000 in a 401(k)

Andre Nader resides in San Francisco and considers himself 'semi-FIRE'd.'Courtesy of Andre NaderAndre Nader built a seven-figure portfolio by saving and investing in index funds.He leveraged his tech career and dual-income household to maximize savings and investments.One strategy he used to max out tax-advantaged accounts is known as 'a mega backdoor Roth'.Andre Nader built a seven-figure portfolio before age 40 by following a few simple fundam…

Mega Backdoor Roth IRA: Supercharging Your Retirement Savings

Ever since I started saving for retirement in 1999, I’ve been a proponent of tax-deferred retirement vehicles like the 401(k) and skeptical of tax-now vehicles like the Roth IRA. Working in banking, I was already being taxed out the wazoo and had no desire to pay even more. Frankly, I wasn’t even familiar with the […] The post Mega Backdoor Roth IRA: Supercharging Your Retirement Savings appeared first on Financial Samurai.