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 Microsoft 401(k). You can fully leverage these limits by taking advantage of the Mega Backdoor Roth. This is a powerful benefit within your Microsoft 401(k). It allows you to contribute after-tax dollars and convert those dollars to Roth. 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. Microsoft will match 50% of your 401(k) contributions. You can earn up to an additional $11,250 in free money from Microsoft. Key moments in video: 00:00 Introduction 00:25 2023 401k Contribution Limits 00:56 What is the Microsoft Mega Backdoor Roth? 01:26 Mega Backdoor Roth example 02:37 Tax benefits of the Mega Backdoor Roth 02:59 Tax benefits associated with a Roth ****** LIKE this video? HIT the like button! SUBSCRIBE to our channel to view more videos created for hig