2021 is a great year to consider Roth conversions and other strategic moves from a tax planning perspective. Here are my thoughts as quoted in the Wall Street Journal (April 30, 2021):
Reaching retirement is exciting, but having enough to maximize your quality of life during retirement is key. You’ve likely heard of a backdoor Roth IRA, but for some looking to maximize their withdrawals in retirement, a mega backdoor Roth IRA may be the way to go.
What is a mega backdoor Roth IRA? Below we’re breaking down what you need to know about this retirement savings strategy.