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Mega Backdoor Roth Savings
Are you maximizing your employer benefits? Beyond the familiar 401(k) plan, there's a powerful strategy you might be missing: the Mega Backdoor Roth (MBR). With the 401(k) contribution limit set at $23,000 in 2024, the MBR offers a chance to supercharge your retirement savings by an additional $46,000 annually.
This strategy opens the door to substantial tax savings by potentially lowering your capital gains tax. But exactly how much could you save?
Our calculator begins to quantify this question by showing the tax benefits of consistent contributions to an MBR. Discover how much you could potentially save on taxes by the age of 65.
Inputs
Start Contribution Age
$2,458,257
$8,389,000
$6,291,750
$4,194,500
$2,097,250
$0
End Contribution Age
$2,458,257
$4,194,000
$3,145,500
$2,097,000
$1,048,500
$0
Avg. Market Returns
$2,458,257
$16,777,000
$12,582,750
$8,388,500
$4,194,250
$0
Additional Inputs
Show
You can potentially save
$2,458,257
in taxes by 65 years old with the mega backdor roth.
Your Tax Savings:
With no contributions$0
With max 401(k) contributions$819,419
With max MBR contributions$2,458,257
Show the Math