Monthly Archives: November 2021

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32. Mega Backdoor Roth IRA Strategy

Finance, Financial, Retirement, Taxes, Uncategorized, , , , , , , , ,

Would you like to put $58,000 into a Roth IRA this year, then grow that money, tax-free, until you retire, and then take it out as tax-free retirement income?

In this episode, J Barry Watts introduces the mega back door Roth IRA strategy. He shares how some individuals can contribute $58,000 to their Roth IRA, despite traditional limits on contributions. Barry covers what you need to understand about Roths, including who can have a Roth and more.

Barry discusses:

  • What you need to understand about Roth IRAs
  • Who is eligible to have a Roth IRA
  • How people can contribute $58,000 instead of $6000 to a Roth IRA
  • The mechanics of the mega backdoor Roth IRA strategy
  • And more

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31. How the TRULY-WEALTHY & the WORKING-WEALTHY DIFFER: Family Endowment Plans

Finance, Financial, Retirement, Taxes, Uncategorized, , , , , , , ,

Are you truly wealthy or working wealthy? What’s the difference between the two? For moderately wealthy people who don’t believe they have any tax strategy opportunities, this episode is for you.

In this episode, J Barry Watts introduces a tax strategy and draws the line between the truly-wealthy and the working-wealthy. Barry also emphasizes the point that control of assets is more important than ownership, and how a family endowment plan allows for control over assets.

Barry discusses:

  • The difference between truly-wealthy and working-wealthy people
  • Why financial control is more important than ownership
  • How you can control something you don’t own
  • How a family endowment plan allows you to maintain control over a gift to charity
  • And more

Connect With Barry Watts:

 

Podcast: Play in new window | Download

Subscribe: Spotify | iHeartRadio | TuneIn | RSS | More