Mega Backdoor Roth for 2022???
12-05-2021, 06:36 AM
#1
Gets Weekends Off
Thread Starter
Joined APC: Mar 2012
Position: 320B
Posts: 454
Mega Backdoor Roth for 2022???
From what I’m hearing the mega backdoor Roth conversion may not be available in 2022 due to the bill going through congress currently.
So….what are people doing for 2022? Just contributing to Roth 401ks? What’s the best strategy for the current situation to maximize Roth savings? I want to make sure my elections in Fidelity are appropriate before the first paycheck deduction in January.
Thanks for any input from those much smarter than myself.
So….what are people doing for 2022? Just contributing to Roth 401ks? What’s the best strategy for the current situation to maximize Roth savings? I want to make sure my elections in Fidelity are appropriate before the first paycheck deduction in January.
Thanks for any input from those much smarter than myself.
12-05-2021, 07:18 AM
#2
Roll’n Thunder
Joined APC: Oct 2009
Position: Pilot
Posts: 3,555
Originally Posted by TurbineDriver
From what I’m hearing the mega backdoor Roth conversion may not be available in 2022 due to the bill going through congress currently.
So….what are people doing for 2022? Just contributing to Roth 401ks? What’s the best strategy for the current situation to maximize Roth savings? I want to make sure my elections in Fidelity are appropriate before the first paycheck deduction in January.
Thanks for any input from those much smarter than myself.
So….what are people doing for 2022? Just contributing to Roth 401ks? What’s the best strategy for the current situation to maximize Roth savings? I want to make sure my elections in Fidelity are appropriate before the first paycheck deduction in January.
Thanks for any input from those much smarter than myself.
12-14-2021, 07:39 AM
#4
That/It/Thang
Joined APC: Aug 2020
Posts: 2,848
Originally Posted by TurbineDriver
Bump…..anyone else?
12-14-2021, 11:17 AM
#8
Gets Weekends Off
Joined APC: Dec 2013
Posts: 2,236
The Fidelity email outlined it pretty good. If you are doing conversions manually currently then call and do your last one on the 23rd. Obviously next year you won't be able to do anything but look for other ways to find tax advantaged investments. They told us taxes won't be going up on the middle class - did anyone really believe them? If this doesn't pass now it will come up again. They need more of your money. The inflation tax we are paying now isn't enough.
12-14-2021, 12:00 PM
#9
Roll’n Thunder
Joined APC: Oct 2009
Position: Pilot
Posts: 3,555
Originally Posted by Nantonaku
The Fidelity email outlined it pretty good. If you are doing conversions manually currently then call and do your last one on the 23rd. Obviously next year you won't be able to do anything but look for other ways to find tax advantaged investments. They told us taxes won't be going up on the middle class - did anyone really believe them? If this doesn't pass now it will come up again. They need more of your money. The inflation tax we are paying now isn't enough.
12-14-2021, 12:07 PM
#10
Gets Weekends Off
Joined APC: Dec 2017
Posts: 2,767
Guys, the BBB is dead. Manchin isnt playing ball. Hes saying a year because by next may everyone will be gearing up for elections and this thing will simply be a thing they scream about for votes. The senate isnt playing ball, populism doesnt work in the senate.
Dont get geared up forthis stuff
Dont get geared up forthis stuff
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