All the Hacks with Chris Hutchins

Leveraging Tax-Advantaged Accounts to Maximize Your Wealth with Katie Gatti Tassin

30 snips
Nov 22, 2023
Guest
Katie Gatti Tassin
Katie Gatti Tassin, creator of the Money with Katie blog and podcast, shares her expertise on maximizing wealth through tax-advantaged accounts. She delves into essential strategies like Roth Conversion Ladders, HSAs, and Donor Advised Funds. Listeners will learn the ins and outs of 401(k)s and IRAs, as well as the mega backdoor Roth strategy for substantial savings. Katie emphasizes the importance of understanding tax codes and smart investment placements, offering practical advice to enhance your financial future.
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ADVICE

401(k) and Roth IRA Strategy

  • Prioritize pre-tax 401(k) contributions to maximize tax savings.
  • Invest these savings in a Roth IRA for tax-free growth.
INSIGHT

Pre-tax vs. Post-tax Contributions

  • Pre-tax contributions grow more due to a larger base, even if taxed later.
  • Consider the trade-off between tax advantages and liquidity limitations.
ADVICE

Prioritizing Investments

  • Always prioritize employer 401(k) matches, even with debt.
  • Secure an emergency fund before maximizing retirement contributions beyond the match.
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