Hello! I've only really recently started hyper focusing on prepping for retirement, with emphasis on maximizing tax efficiency - wish I'd had the spark to do this sooner, but better late than never. Background: 40/M in HCOL area, married. No kids (and not planning to have any). ~$1.09M in retirement savings. My goal is to achieve a comfortable coast fire in our HCOL in the next ~5 years. Prefer not to die from stress before we can enjoy the outcome of our effort. Savings breakdown: $461k traditional 401k $36k HSA $519k taxable brokerage $110k traditional IRA Also have fully funded emergency fund for 1x year of annual expenses in an HYSA The thing I've more recently learned about is backdoor / mega backdoor Roth conversions. My plan: Roll trad IRA into 401k, and begin backdoor Roth IRA conversions starting next year. Begin taking advantage of mega backdoor roth in 401k (which I've only just discovered is viable in my plan). Will aim to contribute after-tax to annual 401k contribution cap and convert to Roth. My question: Are there any implications / watch-outs I should consider from the Roth conversions before I put this in motion? For instance: the only "downside" I can see from rolling my IRA into 401K is having more limited optionality for what those dollars can be invested into. Anything else? For the mega back door Roth - mainly my concern here is that it is by comparison more complicated and doing this incorrectly could lead to some negative outcomes. But anything else? Thanks in advance, appreciate it.
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