Strategies to make the most out of your Microsoft employee benefits.
Maximize your MICROSOFT 401(k) by utilizing the Backdoor Roth provision. The Mega Backdoor Roth allows you to invest beyond the traditional 401(k) limits. Contribute after-tax dollars and convert those dollars to Roth. Grow your savings for retirement -- tax-free.
Video takeaways:
2024 401(k) contribution limits:
-- Under 50 years old: $23,000
-- 50 or older: $30,500
MICROSOFT Employer Match
-- Microsoft will match 50% of your contribution - up to $11,500.
The MICROSOFT Mega Backdoor Roth 2024 TOTAL 401(k) contribution limits:
-- Under 50 years old: $69,000
-- 50 or older: $76,500
Use the Mega Backdoor Roth to contribute after-tax dollars - over and above the traditional 2024 contribution limits. MICROSOFT allows you to contribute up to the Federal limit - this means you can contribute up to $34,500 to a Roth this year!
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⏲️Timestamps
00:00 Introduction
00:14 401k Contribution Considerations
00:49 2024 401k Contribution Limits
01:10 2024 401k Paycheck Contribution Limit (under 50)
01:27 Microsoft Employer Match
01:39 Microsoft Mega Backdoor Roth
02:12 2024 401k Contribution Limit (50 or older)
03:02 Microsoft 401k Benefits
RESOURCES FOR MICROSOFT EMPLOYEES
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Avier Wealth Advisors
10655 NE 4th Street, Suite 500
Bellevue, WA 98004
info@avieradvisors.com
We focus on providing comprehensive financial planning and investment advisory strategies for tech professionals and their families.
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Third Party: Avier Wealth Advisors is not affiliated with Microsoft. There is no guarantee that the information we have provided is accurate. Microsoft employees are encouraged to contact their employer should they have any questions regarding their employee benefits.
Taxes: Avier Wealth Advisors does not prepare taxes. The tax ideas presented are meant to demonstrate general concepts rather than precise calculations. We consult with your tax professional for exact calculations.
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