IRA vs 401(k): The First-Gen Order of Operations for STEM and Healthcare Earners
This guide advises STEM and healthcare earners to prioritize maximizing 401(k) employer matches, then contribute to IRAs, considering pre-tax vs Roth options based on tax outlook. Use backdoor Roth and mega backdoor 401(k) strategies if eligible. Manage cross-border finances carefully, consolidate old plans wisely, and balance family support with retirement savings for long-term financial stability.
Roth IRA, Backdoor, and Mega Backdoor: The Plain-English Playbook for First‑Gen High Earners
Guide for first-gen high earners on Roth IRA, backdoor, and mega backdoor strategies to maximize tax-free retirement growth, navigate income limits, and optimize 401(k) choices.
The $40,000 Door Your 401(k) Might Be Hiding
A pharmacist I’ll call Ada came to me last spring with her benefits portal open on her laptop. She earned $190,000 a year. She maxed her 401(k) every January like clockwork. And she had no idea her own plan was hiding a door that could move another $40,000 a year into tax-free savings. Her old […]