4.9 • 2.3K Ratings
🗓️ 10 October 2019
⏱️ 74 minutes
🧾️ Download transcript
The Mega Backdoor Roth IRA allows you to contribute an additional amount into an Roth IRA due to the fact that some employer 401k plans allow after-tax contributions. Listen to this episode to see if and how you can take advantage of this opportunity. See the full transcription and links to everything talked about in this episode at https://www.whitecoatinvestor.com/classic-blog/.
If you’re like most doctors, nobody taught you anything about personal finance or investing during your undergrad, professional school, or residency. And even though your family - and perhaps even your business - rely on you to be the Chief Financial Officer, you have never been given the tools to succeed. Enroll in WCI Financial Boot Camp, a FREE educational email series, and learn to convert your high income to wealth. You will learn the basics of investing, saving, insurance, and more. Your high income alone will not lead to financial success, but as always, we want to help you on your financial journey. Go to https://www.whitecoatinvestor.com/financialbootcamp to sign up today! You can do this and The White Coat Investor can help.
The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!
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0:00.0 | This is the White Coat Investor Podcast, where we help those who wear the white coat get a fair shake on Wall Street. |
0:06.0 | We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011. |
0:12.0 | Here is your host, Dr. Jim Dolly. |
0:15.0 | This is White Coat Investor Podcast Number 127, |
0:21.0 | Mega Back Door Roth IRAs. You know I've been hanging out in the |
0:26.1 | white code investor private Facebook group. You can find that at |
0:29.7 | Facebook.com slash group slash white code investors and trying to figure out why something |
0:36.4 | happens in there that doesn't happen necessarily elsewhere in some of our |
0:41.1 | other communities like our subreddit. |
0:43.0 | For those of you who are into Reddit, |
0:45.0 | that's a great place to check out a community of like-minded individuals |
0:49.0 | or on the WCI forum that we host on our website itself. And the reason why... the group through my laptop. I go to Facebook, I click on the group and I go in there and I see all the questions |
1:06.0 | of people are asking together and I go from one to the next to the next. But I think I realize that most of the people in the |
1:11.8 | Facebook group don't access it that way. |
1:14.8 | The questions and the topics that come up and there just show up in their feeds. |
1:18.6 | So they're between Aunt Millie's cat pictures and whatever else you happen to be a member of or what your friends |
1:25.3 | are posting on Facebook and so they just come up randomly. |
1:29.1 | Because sometimes some of the questions we see as well as the answers that are given in that group are less than |
1:34.8 | ideal, let us say, perhaps less than I would expect from a financially literate population. |
1:41.2 | And so I've been trying to do a few things to improve that. |
1:43.4 | The first thing is I signed up all the people in the group whose email addresses we had |
1:48.1 | for the white code investor newsletter, which gives them financial boot camp that 12 step email series that you get |
... |
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