Strangely, a down market and the response of the government to it has created potential planning opportunities that wouldn’t have otherwise been there.
Retirement isn’t a reward you one day receive at random. It’s not something you jump into without a thought in mind. You work up to this day with purpose, precision, and dedication.
A mega backdoor Roth is a great option to quickly build a tax-free bucket of money for individuals who have maxed out other retirement savings vehicles, still have surplus to be invested, and have a 401(k) plan that allows for this strategy. Consider this an additional tool in your toolbox.
In 2006, the Federal government created an alternate design in the Medicare market to complement supplement plans and stand-alone prescription drug plans. They’re called Medicare Advantage plans. Although the start was a bit rocky, carriers have learned and grown with their plan designs. Here are some of the most talked about design concepts of the Medicare Advantage plans.