I'm a high earner who has always maxed out my 401k. I keep hearing about backdoor Roth IRA - what is it?

Cheese's assumption that maxing out her 401(k) guarantees success illustrates a common misconception; alternative strategies like after-tax contributions and Roth options can significantly enhance savings.

While maxing out a 401(k) is beneficial, it can limit high earners. Exploring after-tax contributions offers more opportunities for tax-free growth, expanding savings potential.

After-tax contributions don't offer immediate tax benefits but provide considerable future advantages when rolled into Roth accounts, allowing for tax-free growth.

Navigating retirement savings requires understanding that sticking solely to traditional methods might restrict your financial growth; diversifying into after-tax contributions can offer key benefits.

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