In our most recent Wealth Management Insights publication, Samantha Pahlow, CTFA, AWMA, provided a primer on considerations when naming minors beneficiaries of retirement and other financial accounts.
Backdoor and Mega Backdoor Roth Strategies
If you are looking for ways to increase your tax-advantaged retirement savings, it may be worth exploring the concepts of the backdoor Roth, and the newly popular mega-backdoor Roth. If the circumstances fit and the rules are followed, both strategies allow individuals to save money for retirement without ever paying income taxes on the funds again. Yes, you read that right.