I’m really into learning about ‘personal finance’ but for whatever reason I feel like I don’t want to know what ‘mega backdoor Roth’ is. Coz the reality can’t possibly be cooler than what it sounds like
@skinnylatte the 'backdoor conversion' is where you convert a regular ira to a roth ira
@Viss @skinnylatte Actually, "Mega Backdoor Roth" is what we called my fraternity brother who kept talking about his weird sexual obsession every time he got drunk.
@Viss @skinnylatte the “mega” is this but using a 401k first, for ever greater contrib limits
@skinnylatte oh it's a grand scale grift, and if you're well positioned, you can make out like a bandit, tax-free.
It is a loophole that folks have driven megayachts through.