Navigating the Complexities of Retirement Accounts for 1099 Contractors

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This chapter explores the intricacies of managing retirement accounts when moving from traditional employment to freelance contracting. It provides insights on handling old 401(k)s, backdoor Roth IRAs, and establishing solo 401(k)s, along with practical examples and essential financial planning tips.

Today we answer questions about the Mega Backdoor Roth IRA, answer a few questions about 401(k)s, and discuss if it is worth not rolling an old 401(k) into your new one to provide some added asset protection. We talk about cash vs. bonds and how to evaluate your investment mix. Those questions and more on todays episode!

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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 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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