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.
Your Retirement Calculator Is Lying. Here is One Built for First-Gen Pros.
The Lampados First-Gen Retirement Calculator addresses cultural obligations, cross-border finances, and irregular income, offering a tailored, accurate retirement plan for first-generation STEM and healthcare professionals.
How to Build Wealth When You’re Also the Family Safety Net
Balance family support and personal wealth by budgeting, setting guilt-free boundaries, automating savings, using tax-advantaged accounts, planning estates, and managing cross-border finances with expert guidance.