If I understand correctly, one can pass the yearly $19,500 401K limit by converting their 401K into their Roth account - making the contribution cap much higher.
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My company matches 6%, and says "The 401K plan allows additional after-tax (non-Roth) contributions up to $27,500" - what does this mean exactly? Is this the backdoor Roth IRA?
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The match is 6%, up to a max of $10,000 per year - how often does one do these mega backdoor 401K to Roth conversions? Each Paycheck? How do I ensure I max out both my $19,500 401K limit and my $27,500 contribution limit each year?
Submitted February 20, 2020 at 08:08PM by anonymouspsy https://ift.tt/2HGbMfp
