#87 - The Mega Backdoor Roth and How Pilots Can Maximize Retirement Contributions with Timothy Pope

Passive Income Pilots

In this episode of Passive Income Pilots, Tait Duryea and Ryan Gibson welcome back financial expert Timothy Pope to unravel the complexities of retirement strategies for high-income professionals, focusing on the Mega Backdoor Roth. Timothy explains how this powerful tool allows pilots to contribute significantly more to their 401(k) accounts, unlocking tax-free growth opportunities. You will gain clarity on Roth vs. Traditional contributions, tax implications, and the strategic use of post-tax dollars. Whether you're a super-saver or exploring alternative investments, this episode is packed with actionable insights to help you take control of your financial future.

Timothy Pope is a financial advisor specializing in retirement strategies and financial planning for pilots and high-income professionals. With extensive expertise in tax-advantaged investing and wealth management, Timothy brings clarity to complex financial topics like the Mega Backdoor Roth. He is the host of the Pilot Money Podcast and helps aviators navigate tailored financial solutions to achieve their investment goals and maximize their life's potential.

Show notes:

(0:00) Intro

(5:29) What is the Mega Backdoor Roth?

(8:53) Key tax strategies for high-income pilots

(15:30) Airline 401(k) plans and post-tax contributions

(18:51) Dissecting the Mega Backdoor Roth

(24:15) Super-savers and retirement planning strategies

(27:24) Retirement roadmap options for pilots

(33:16) Maximizing the Mega Backdoor Roth

(38:27) Pre-tax vs. Roth contributions

(42:20) Threshold for a higher tax bracket

(49:46) Outro

Connect with Timothy Pope:

• Linkedin: https://www.linkedin.com/in/timothyp-pope/
• Website: http://www.tpope.ceterainvestors.com/
• Pilot Money Podcast: https://podcasts.apple.com/us/podcast/pilot-money-podcast/id1718915375

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*Legal Disclaimer*

The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.