 In my 20 year plus career here in the Atlanta area, I have noticed a few things about those of us in our 40's and 50's. Whether we saved enough money earlier in life or not, our 40's is a challenging decade to save with kids in college. That's why I have always called the decade of our 50's, the "catch up" decade. It is that mad scramble to make up for lost time and really focus in getting as much into savings as you can to reach retirement, or at least have options. Reaching retirement is exciting, but having enough to maximize your quality of life during retirement is key. You’ve likely heard of a backdoor Roth IRA, but for some looking to maximize their withdrawals in retirement, a mega backdoor Roth IRA may be the way to go.
What is a mega backdoor Roth IRA? Below we’re breaking down what you need to know about this retirement savings strategy.
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