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NVIDIA Introduces New 401(k) Plan and Mega Backdoor Roth Contribution Option for 2023

In 2023, you may be able to contribute up to $66,000 if you’re under 50 and $73,500 if you’re 50 or older to your Nvidia 401(k). You can fully leverage these limits by taking advantage of the Mega Backdoor Roth. This is a powerful benefit within your Nvidia 401(k). It allows you to contribute after-tax dollars and convert those dollars to Roth. ******. Questions for Saloni Gupta, CFP® SCHEDULE TIME ON HER CALENDAR: CONNECT on LinkedIn: ******. 00:00 Introduction 00:16 2023 NVIDIA 401(k) Contribution Limits 00:41 3 Reasons Why You Should Contribute to Your 401(k) 01:41 NVIDIA Mega Backdoor Roth 02:14 Mega Backdoor Roth Example 03:03 Mega Backdoor Roth Tax Benefits ****** Control your taxable income in retirement. The Mega Backdoor Roth is a way for high-income earners to utilize the benefits of a Roth. Within a Roth your money grows tax-free. These same dollars and the interest earned can be tax-free when accessed in retirement (59.5+ years old). Having additiona