The Agent of Wealth
Welcome to The Agent of Wealth Podcast with Marc Bautis from Bautis Financial. In this podcast, Marc helps small business owners and retirees overcome the multiple wealth planning challenges involved in your financial life. We do this by creating comprehensive wealth management plans to guide you towards financial freedom, ensure you never run out of money and help create a balance in life that prioritizes what is most important to you. Join us for this journey as Marc draws from years of expertise and guest experts to solve the multiple wealth planning issues involved in your financial life.
The Agent of Wealth
Maximize Your 401(k): Roth vs Pre-Tax Contributions
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Marc Bautis
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Episode 222
Are you making the most of your 401(k)? In this episode of The Agent of Wealth Podcast, host Marc Bautis dives deep into the 401(k) – a cornerstone of retirement planning that has transformed how Americans save for the future. Tune in to discover the nuances between Roth and pre-tax contributions, including their immediate and long-term implications.
In this episode, you will learn:
- The evolution and history of the 401(k) and its impact on retirement savings.
- The key differences between Roth and pre-tax 401(k) contributions and their tax implications.
- How to determine whether Roth contributions may be more beneficial based on your current and future tax situation.
- The significance of employer matching contributions and how the Secure Act 2.0 has changed matching rules for Roth accounts.
- The concept of required minimum distributions (RMDs) and the recent changes affecting Roth 401(k)s.
- The Mega Backdoor Roth strategy, allowing high earners to maximize contributions to Roth accounts beyond standard limits.
Resources:
Episode Transcript & Blog | Checklist: Should I Contribute to My Roth 401(k)? | Checklist: Can I Make a Mega Backdoor Roth Contribution? | Bautis Financial: 8 Hillside Ave, Suite LL1 Montclair, New Jersey 07042 (862) 205-5000 | Schedule an Introductory Call