The Mega Backdoor Roth: A Way for Tech Workers to Contribute $34,000 Each Year to a 401(k) Without Paying Taxes
A Look at the Backdoor Roth Strategy for 401(k) Contributions A 56-year-old software engineer, who has accrued $1.6 million in her 401(k), recently sought advice on r/financialindependent about how to handle her plan’s “after-tax and Roth conversion” options, aside from the typical $24,500 deferral. While she’s taken full advantage of her regular contributions for 20 […]
$800M Mega Millions jackpot winning ticket purchased in Florida: Results, drawing
Summer festivals are really taking off in Florida. On Tuesday night, someone in the state hit the Mega Millions jackpot, landing a staggering $800 million. This marks the biggest win of the year and the 10th largest in the history of the game. The winning numbers were 34, 48, 49, 59, 70, and the gold […]
“I Am The Tiger”: US Citizen Supported by Trump Aims to Assume Office in Colombia, Plans to Fill Mega Prisons with Criminals
Abelardo de la Espriela Set to Become Colombia’s President Abelardo de la Espriela, a right-wing lawyer and businessman with dual U.S. citizenship, has garnered support from former President Donald Trump and is on track to become Colombia’s next president. He narrowly secured victory over leftist senator Ivan Cepeda in the presidential runoff held on June […]
Select Your Fighter: Vanguard Mega Cap Growth ETF vs. iShares Russell 2000 Growth ETF
Choosing Between Growth ETFs When considering investment options like the Vanguard Mega Cap Growth ETF (NYSEMKT:MGK) and the iShares Russell 2000 Growth ETF (NYSEMKT:IWO), your choice may hinge on whether you prefer the reliability of established tech companies versus the potential ups and downs of smaller firms. Growth investing encompasses a range of companies, from […]
The 401(k) Mega Backdoor Roth Method a Tech Employee Used to Accumulate $750,000 in Roth Savings in Six Years
Quick Read A Meta engineer earning $200,000 can convert their $36,250 annual after-tax 401(k) contributions into a Roth and potentially accumulate $750,000 tax-free by the age of 36. Before engaging in a mega backdoor strategy, ensure your Meta plan permits after-tax contributions and in-plan Roth conversions. Wondering where you stand with retirement? SmartAsset offers free […]
Greater Overall Returns or Wider Diversification: Vanguard Mega Cap Growth ETF or iShares S&P 500
Comparing Vanguard Mega Cap Growth ETF and iShares Core S&P 500 ETF The Vanguard Mega Cap Growth ETF (MGK) and the iShares Core S&P 500 ETF (IVV) present two different investing approaches. Investors often find themselves at a crossroads, weighing the potential of a heavy tilt toward growth in mega-cap stocks against a broader market […]
Vanguard Mega Cap Growth ETF or Invesco QQQ: Which Growth Fund Is the Better Investment?
Both the Vanguard Mega Cap Growth ETF and the Invesco QQQ Trust, Series 1 aim at the heavyweights of the US market, particularly focusing on high-growth firms that hold strong positions in their sectors. While QQQ follows the 100 largest non-financial companies listed on Nasdaq, MGK adheres to the Mega Cap Growth Index. This leads […]
Comparing Vanguard Growth ETF and Vanguard Mega Cap Growth ETF: Analyzing Costs, Returns, and Risk
Vanguard Growth ETF vs. Vanguard Mega Cap Growth ETF Both the Vanguard Growth ETF (VUG) and the Vanguard Mega Cap Growth ETF (MGK) focus on aggressive growth areas within the U.S. stock market, spotlighting companies with strong earnings and potential for high earnings. While they both follow similar investment strategies, this comparison sheds light on […]
UK Greenlights ‘China Mega Embassy’ Amid Concerns Over Espionage
The British government has given the green light for a “giant embassy” from China to be built in central London. This decision may have been strategically timed, causing potential tension with the United States, which has expressed concerns about such a significant development favoring China. On Tuesday morning, the Labor government in Britain announced approval […]
Georgia Mega Millions player wins $983M jackpot — the biggest lottery prize in the state
Historic Mega Millions Win in Georgia A Georgia lottery player has claimed an unprecedented $983 million Mega Millions jackpot, marking a record high for the state. The winner, who chose to remain anonymous, came forward on January 2 and opted for the pre-tax cash amount of $453.6 million, as noted by lottery officials. This person […]