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 a 401(k) You can leverage these limits by taking advantage of the Mega Backdoor Roth – a powerful provision within your Intel 401(k). The Mega Backdoor Roth allows you to contribute after-tax dollars and convert those dollars to Roth. You can maximize your retirement savings and take advantage of the tax benefits associated with a Roth. Your regular 401(k) contributions increased in 2023: • Under 50: $22,500 • 50 or older: $30,000 ($22,500 + $7,500 catch-up contribution) Intel will match up to 5% (temporarily reduced to 2.5% on 01/01/2023) of your salary. For example, if you make $200,000, Intel will contribute $5,000 (pre-tax) to your 401(k), assuming you also contribute at least $5,000. 00:00 Introduction 00:12 2023 Intel 401k contribution limits 00:25 What is the Intel Mega Backdoor Roth ****** LIKE this video? HIT the like button! SUBSCRIBE to our channel to view mo

In this video we walk through the INTEL MEGA BACKDOOR ROTH CONVERSION benefit, also known as the Intel 401(k) After-Tax Roth Conversion Benefit. 👏 Please subscribe to our channel for more updates and information about the Intel 401(k), your Intel benefits, and the Intel Mega Backdoor Roth Conversion benefit. Website: Email: alex.krider@avieradvisors.com Direct: 503-347-8218 #Intel #Backdoor #Roth The Intel Mega Backdoor Roth Conversion is one of the most amazing benefits that will be available within the Intel 401k plan starting in January 2020. The Intel Mega Backdoor Roth Conversion is officially known as the Intel 401(k) After-Tax Roth Conversion Benefit. In this video you will learn: 0:31 What is the Intel Mega Backdoor Roth Conversion? 1:05 How the Intel 401k plan works in terms of contributions and matching 2:34 Why using the Intel Mega Backdoor Roth Conversion can be important from a tax perspective 3:30 How to learn how to leverage the Intel Mega Backdoor Roth