Reported 11 months ago
With retirement savings, individuals have the option to pay taxes now or later. It involves deciding whether to use nonretirement funds to pay taxes on rollovers or to let a Roth continue growing tax-free. The key is to focus on maximizing savings for early retirement while considering the long-term benefits, such as tax advantages for heirs and Roth conversions. The goal is to put away as much as possible within the limits, including mega backdoor Roth contributions, in order to secure a comfortable retirement.
Source: YAHOO