Comments on: Mega backdoor Roth (HYW088) https://hackyourwealth.com/mega-backdoor-roth Wealth building hacks for lawyers & engineers Fri, 03 Jun 2022 08:50:50 +0000 hourly 1 https://wordpress.org/?v=5.9.10 By: Andrew C. https://hackyourwealth.com/mega-backdoor-roth#comment-80513 Fri, 03 Jun 2022 08:50:50 +0000 https://hackyourwealth.com/?p=6820#comment-80513 In reply to Xuan.

Doesn’t sound you have a mega backdoor option based on what you said. The in-plan conversion only applies after you max our your employee contribution first. You can make your employee contribution either to pre-tax or to Roth. But if you want to contribute more beyond that, your employer has to allow it and it has to be after-tax. The in-plan conversion applies to that second portion.

]]> By: Xuan https://hackyourwealth.com/mega-backdoor-roth#comment-80512 Fri, 03 Jun 2022 06:21:55 +0000 https://hackyourwealth.com/?p=6820#comment-80512 Andrew, I am very confused by the in-plan conversion piece of the mega backdoor conversion. My employer’s 401k plan offers two options (1) pre-tax account and (2) Roth Account from Fidelity. The explanations on the website state the Roth account earnings grow interest free. Is the money in the Roth account already converted from after-tax 401k to Roth? Do I still need to do an in-plan conversion?

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