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:
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.
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