WCI #354: Mega Backdoor Roth Contributions with Minimal 1099 Income

White Coat Investor Podcast

Dr. Jim Dahle of the White Coat Investor

Medicine, Health & Fitness, Business, Investing

4.9 • 2.3K Ratings

🗓️ 15 February 2024

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today we tackle a few of your questions about 529s. We answer some questions about when you have to pay taxes on your rollover IRA contributions to Roth as well as a question about Mega Backdoor Roths. We talk about structured notes and what the advantages and disadvantages are to saving for minors using a UTMA vs. a parental brokerage.

Today’s episode is brought to us by SoFi, the folks who help you get your money right. They’ve got exclusive rates and offers to help medical professionals like you when it comes to refinancing your student loans—and that could end up saving you thousands of dollars. Still in residency? SoFi offers competitive rates and the ability to whittle down your payments to just $100 a month* while you’re still in residency. Already out of residency? SoFi’s got you covered there too, with great rates that could help you save money and get on the road to financial freedom. Check out their payment plans and interest rates at https://SoFi.com/WhiteCoatInvestor
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. Additional terms and conditions may apply. NMLS 696891.

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!

Main Website: https://www.whitecoatinvestor.com
YouTube: https://www.whitecoatinvestor.com/youtube
Student Loan Advice: https://studentloanadvice.com
Facebook: https://www.facebook.com/thewhitecoatinvestor
Twitter: https://twitter.com/WCInvestor
Instagram: https://www.instagram.com/thewhitecoatinvestor
Subreddit: https://www.reddit.com/r/whitecoatinvestor
Online Courses: https://whitecoatinvestor.teachable.com
Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter

Transcript

Click on a timestamp to play from that location

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.
0:06.1	We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011.
0:19.0	This is White Coat Investor Podcast number 354. Today's episode is brought to us by Soapai, the folks who help you get your money right.
0:23.0	They've got exclusive rates and offers to help medical professionals like you when it comes to
0:26.8	refinancing your student loans. That could end up saving you thousands of dollars.
0:30.1	Still in residency, SoFi offers competitive rates and the ability to whittle down your payments to just $100 a month while you're still in residency.
0:37.0	Already out of residency, SoFi's got you covered there too, with great rates that could help you save money and get on the road to financial freedom.
0:43.2	Check out their payment plans and interest rates at sofi.com slash white code investor.
0:47.2	Sofi student loans are originated by sofi bank and a member of the IC.
0:50.3	Additional terms and conditions may apply and and my last 696-891.
0:54.9	All right, welcome back to the podcast.
0:56.9	It's exciting.
0:58.3	We're recording this in the holidays.
1:00.0	I think this drops not until February.
1:02.2	So it's going to be a little wild before you
1:03.5	hear this so if something seems out of date because the world totally changed in
1:07.1	the last six weeks that's why but some of you are listening to this in the car with your kids. I hear from you from time to time.
1:16.5	And so for just a minute, I want to talk to you kids. All right? So parents, I guess I don't want you to put your hands over your ears because you're probably driving, but this one's for the kids.
1:27.4	All right, kids, I get it. This podcast is totally boring, and I'm sorry your parents make you listen to it. My kids
1:35.0	whine when I make them listen to financial podcasts as well. But you know what?
1:39.1	there's a few useful things you'll pick up in here from time to time that you'll remember down the road and
1:44.2	to help you have a happier and more successful life.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Dr. Jim Dahle of the White Coat Investor, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Dr. Jim Dahle of the White Coat Investor and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.