Mega backdoor Roth conversions are a powerful strategy that can significantly boost tax-free retirement savings for individuals who exceed the income limits for traditional Roth IRA contributions. This maneuver involves making after-tax contributions to a 401(k) plan and then converting these funds to a Roth IRA. Unlike regular backdoor Roth conversions, mega backdoor conversions allow
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Rivian Automotive has recently announced an overhaul of its all-electric R1 pickup and SUV models, focusing on improving range, performance, and computing power. One of the most significant changes in the 2025 model-year vehicles is the incorporation of Nvidia chips to boost computing capabilities. The upgraded system now boasts ten times more performance than its
Paramount and Skydance have reached an agreement on the terms of a merger, as reported by CNBC’s David Faber. The deal, which could be announced in the coming days, involves a consortium led by David Ellison’s Skydance, with backing from private equity firms RedBird Capital and KKR. The terms have been agreed upon by a
In a recent analysis conducted by Fidelity, it was reported that the average 401(k) plan savings rate has reached a record high of 14.2% during the first quarter of 2024. This percentage is close to the popular benchmark of 15%, which is recommended by Fidelity as a key step towards maintaining one’s lifestyle in retirement.
The emergence of Financial TikTok, or #FinTok, has drawn the attention of many individuals, particularly those belonging to Generation Z. This group has shown an increasing interest in obtaining financial information, tips, and advice through various social media platforms like TikTok, YouTube, and Instagram. This shift can be attributed to the limited access this generation
Investors looking for stability and growth potential may want to consider tech giant IBM. With a solid track record of paying dividends and generating free cash flow, IBM offers a dividend yield of about 4%. Despite facing challenges in the first quarter, including a mixed revenue performance and macro uncertainties, IBM remains a favorite among
Aston Martin, under the leadership of Executive Chairman Lawrence Stroll, is poised to achieve a significant turnaround this year. With a fresh lineup of new models and a marketing boost from Formula 1, the sports car manufacturer is anticipating to become cash-flow positive soon. Stroll emphasized the importance of this transformative moment for the company,
In recent times, U.S. consumers and businesses have taken a more cautious approach towards spending due to the rise in inflation and interest rates, as pointed out by Bank of America CEO Brian Moynihan. Whether it is families or small to medium-sized businesses, Bank of America’s clientele is scaling back their purchases across various categories,
Boeing CEO Dave Calhoun and other top company leaders are set to meet with the Federal Aviation Administration (FAA) in order to present a detailed quality improvement plan. This plan is aimed at addressing concerns regarding staff training and production practices at Boeing factories, following a concerning incident earlier this year involving a 737 Max
Semler Scientific, a relatively unknown medical technology company, made headlines recently when it revealed its decision to make bitcoin its primary treasury reserve asset. This strategic move, reminiscent of MicroStrategy’s approach, caused a surge in Semler’s shares by a staggering 37% on Tuesday. Alongside this announcement, Semler disclosed the purchase of 581 bitcoins valued at