Timothy Sumer

In 2023, you can contribute up to $66,000 if you’re under 50 and $73,500 if you’re 50 or older to your Meta 401(k). You can fully leverage these limits by taking advantage of the Meta Mega Backdoor Roth. This is a powerful benefit within your 401(k). It allows you to contribute after-tax dollars and convert those dollars to Roth. Video Highlights: 00:00 Introduction 00:17 Meta Mega Backdoor Roth 00:46 2023 Federal 401k Limits 00:59 Meta Mega Backdoor Roth Example Your 401(k) contributions also increased in 2023. If you’re under 50 you can contribute up to $22,500 and if you’re 50 or older you can contribute up to $30,000. Meta will match dollar for dollar, up to 50% of the IRS federal limit. You can earn up to an additional $11,250 in free money from Meta, if you’re under 50. If you’re 50 or older Meta will also match 50% of your catch-up contribution. This is an additional $3,750 on top of the $11,250 for a total match of $15,000. ****** LIKE this video? HIT the like...