#541 CPA EXPLAINS: Optimal Order Of Investing For High Income Earners — Main Street Business

In this episode of the Main Street Business Podcast, host Mark J. Kohler and Mat Sorensen break down essential strategies for high-income earners looking to maximize their retirement contributions. Learn how to utilize "backdoor Roth" and "mega backdoor Roth" methods to surpass traditional contribution limits, gain insights into employer matches and after-tax contributions, and explore the powerful role of Health Savings Accounts (HSAs) as part of your retirement plan.

Here are some of the highlights:

Mark and Mat address the misconception that retirement accounts aren't beneficial for high-income earners due to contribution limits.
Emphasize the importance of planning together with one's spouse to understand and align on retirement goals.
Introduction to "spousal backdoor Roth IRA" for married couples to maximize their contributions.
Advise against prioritizing college savings over retirement contributions, emphasizing the need to secure one's own financial future first.
In-depth discussion on advanced retirement strategies for self-employed individuals, including cash balance plans and defined benefit (DB) plans.
The concept of "match and out," where one contributes enough to receive employer matches and then focuses on other accounts.
Mark and Mat encourage listeners to seek professional advice to maximize their retirement contributions and achieve financial security.

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Free Resources

Mat Sorensen’s Optimal Order of Investing Guide
Learn how to prioritize where your money should go and build a smarter investing strategy.
[Download the Free Guide]

Mark J. Kohler’s 30-Point Tax Guide
Discover practical tax strategies and planning opportunities every business owner and investor should know.
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