Everything to know about Roth IRAs, Roth 401Ks, & the Mega Backdoor Roth and when to consider each one

Between the Roth IRA, Roth 401(k), and Mega Backdoor Roth, things can get a little confusing. In this episode, we break down the different types of Roth accounts and who should consider each one. From residents deciding between a 401(k) and a Roth IRA, to high-income earners navigating the Backdoor Roth and pro rata rule, to those nearing retirement evaluating Roth 401(k) contributions, we walk through practical scenarios to help you understand when each strategy makes sense. We also discuss tax diversification, required minimum distributions, legacy planning, and how to use multiple retirement accounts strategically to build flexibility for the future. Tune in to gain clarity and confidence in choosing the right Roth approach for your financial goals.

[00:06:16] Roth vs Traditional Retirement Accounts and Key Tax Differences
[00:07:50] Why a Roth IRA Is a Smart Choice for Residents and Trainees
[00:12:46] How a Backdoor Roth IRA Works Step by Step
[00:18:50] Common Backdoor Roth IRA Mistakes and How to Avoid Them
[00:24:07] Roth 401k vs Traditional 401k and RMD Considerations
[00:28:32] Mega Backdoor Roth Strategies for High Earners

🎉 This episode is sponsored by Bona Fide Finance – Trusted financial advisors offering flat-fee, comprehensive planning to help you build wealth and financial security. Book a consultation at bonafidefinance.com/wealthmindedmd or email [email protected] and tell them we sent you.

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