The trump administration passed a pretty significant law through a budget reconciliation. It was going to get rid of mega back door rothiarays, which is something that kitty and i've been doing the last few years. That didn't pass but you can still do one for yourself and your spouse. If it does pass, it's most like they're going to put the tax changes off until 20 23. I just don't see that happenin only thing is going to happen. And so under any situation other than that retroactiveh ange to bring it back to start on the first of january 20 22, the best thing to do with your back door, ross et c
Today we discuss what happened in Congress and how, for now at least, the backdoor Roth lives on. You can proceed with your contributions as planned. Check out our tutorial to see how: https://www.whitecoatinvestor.com/backdoor-roth-ira-tutorial/ . If at some point Congress decides to make this retroactively illegal, we will walk you through the process of undoing those contributions. We also discuss whether it is worth refinancing your student loans if you are not going for PSLF despite the extension of the student loan holiday. With inflation and rising interest rates this is a more complex question than it typically should be. We answer some questions about employer sponsored 401(k)s, signing bonuses and what kind of contributions to make if you are one of those super savers.
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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 for 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 channel is for you!
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