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The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > "Mega Backdoor Roth IRA" - Who has tried it?
 
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SpelledBackwards
Jan 7, 2001

I found this image on the Internet, perhaps you've heard of it? It's been around for a while I hear.

Jeffrey of YOSPOS posted:

I can do this but I'm not sure if it's worth it. 35k/year is a lot of post-tax money to tie up until I'm 60. Maybe it's worth it even if you take the penalty, but there's no matching for me on the 35k portion at least. At some point I gotta decide how much of my retirement savings should be in taxable accounts simply because I intend to retire early, and I feel like 35k post tax and 18k pre-tax (plus ~7k in HSA and trad IRA) is too heavy on the not-until-60 side.

But wouldn't the 35k post tax get treated like Roth IRA rollover contributions (not earnings), to where you can pull as much as you want from them out of the account with no penalties after a 5 year lockout? At least, I think the 5 year rollover hold applies in this case.

* # ¿ Feb 28, 2016 19:05
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# ¿ May 16, 2024 20:49
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The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > "Mega Backdoor Roth IRA" - Who has tried it?