What's up, guys? In this episode, we're breaking down brand-new IRS guidance for 2025 that's a total game changer for 401(k)s and Roth accounts. If you're looking to maximize your tax savings or supercharge your Roth with nearly $90,000 in contributions, this episode is for you. We'll explain how these new limits work and show you exactly how to take advantage of them. Trust me, you won't want to miss this!

Key Topics:

• Supercharge Your 401(k) Savings and Put Up to Almost 90K into a Roth (00:00)
• Comparison Chart: Under Age 50 (01:58)
• Comparison Chart: Under Age 50-59 (05:35)
• Comparison Chart: Under Age 60-63 (Super Catch Up!) (06:38)
• Comparison Chart: Under Age 64+ (08:12)
• Sample: Joe (40 y.o.) has a $250k Salary, His ER Matches 3% (08:48)
• Wrap-Up: Just Because You Can, Should You Funnel Away 90K? (09:40)

Resources:

• Article on Backdoor Roth
• Article on Mega Backdoor Roth

This Episode is intended to be financial education only and is not intended to be specific tax, legal, or investment advice. Please consult a professional for specific advice. Subscribe to our weekly planning insights newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://mdrnwealth.com/blog/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

If you need specific advice, you can contact us at Advice@mdrnwealth.com or at: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.mdrnwealth.com⁠⁠

In this episode, we’re diving into a Fidelity study that uncovers the common traits of 401(k) millionaires. What habits, strategies, and decisions helped them reach that milestone? We’re breaking it all down, sharing actionable insights, and giving you tips to boost your own retirement savings.

Key Topics:

• Study Overview and Context (00:00)
• Five Habits Found in the Fidelity Study (03:38)
• Key Takeaways from the Study (06:13)
• Wrap-up: Importance of Diversification (07:35)

Resources:

Fidelity.com Study: Five Habits of 401(k) Millionaires

This Episode is intended to be financial education only and is not intended to be specific tax, legal, or investment advice. Please consult a professional for specific advice. Subscribe to our weekly planning insights newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://mdrnwealth.com/blog/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

If you need specific advice, you can contact us at Advice@mdrnwealth.com or at: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.mdrnwealth.com⁠⁠

If you're a solo business owner running an S-corp and haven’t paid yourself a salary yet, this episode is for you! We’re breaking down how to run a one-time payroll (salary) at the end of the year, how to incorporate your 401(k) contributions, and how to withhold additional taxes if needed.

Resources Mentioned:

• Article to solo 401k

Key Topics:

• How to Run One Payroll at the End of the Year (00:00)
• The Walkthrough Tutorial in Gusto (01:46)
• What if you Have a Solo 401(k)? (09:36)
• Taxes Element and Avoiding Underwithholding Penalties (14:28)
• Wrap-Up (16:20)

This Episode is intended to be financial education only and is not intended to be specific tax, legal, or investment advice. Please consult a professional for specific advice. Subscribe to our weekly planning insights newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://mdrnwealth.com/blog/⁠⁠⁠⁠⁠⁠⁠⁠⁠

If you need specific advice, you can contact us at Advice@mdrnwealth.com or at: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.mdrnwealth.com⁠⁠