Physician 401k, Right or Roth?

Physician Family Financial Advisors Podcast; Personal Finance for Doctors with Children

What do neurosurgeons and otolaryngologists have in common? Beyond the polysyllabic nature of their titles, they are both high earning physicians AND four out of five of them are making a BIG tax mistake with their 401ks.

Specifically, they’re choosing the Roth 401k, not the right one or the “Traditional” 401k.

Listen in as Ben and Nate walk through the basics and build on them to arrive at the ultimate cost of this often overlooked decision. Hint: It’s WAY more than you think.

IN THIS EPISODE

• [2:15] What does Roth mean?
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• [3:41] Why would a physician not use a Roth?
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• [6:30] How do you choose which contributions to make?
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• [11:32] Ben gives an example of someone’s situation with traditional vs. Roth programs.
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• [14:44] How to approach state taxes now vs. later.
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• [16:54] What is the mega Roth backdoor IRA?

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