Tu: Up to $35,000 in unused 529 funds rolls into Roth IRAs
“If your kid ends up being some sort of football star and doesn't need the money, you can roll Up to 35,000 dollars of it into a Roth IRA for kiddo.”
Palihapitiya notes proposed California wealth tax targets Roth IRAs over $10M
“The two things that they obviously got somebody very clever to draft it because any Roth IRA Over ten million counts.”
Nagpal: Peter Thiel grew Roth IRA from PayPal shares to $5B
“He put his PayPal founder shares in a Roth IRA. Sold those for about twenty seven million dollars, then used this as a supercharged investment account to where it is today, where he has five billion dollars in his Roth.”
Nagpal: Peter Thiel can withdraw entire Roth IRA tax-free next year
“He turns, he retires next year, so he gets all of that with no taxes.”
Nagpal: Uses mega backdoor 401(k) to contribute $70K annually to Roth IRA
“If you can structure your for one K in a way that you can put in 70,000 dollars a year into your Roth IRA, which I do now, honestly, just the sport of the sport of it is, is fun enough.”
SECURE Act 2.0 allows $35,000 rollovers from 529s to Roth IRAs
“January first of this year, the Secure Act two point O came into effect, effectively allowing 35,000 dollars to rollover from a five to nine account to a Roth IRA account. Now, this rollover is a very complex and admin heavy process that takes multiple years. …”
Nagpal: How Peter Thiel shielded $27M in PayPal gains using a Roth IRA
“What he did is he bought his founder shares at PayPal with his Roth IRA. So he spent like 2000 dollars to buy PayPal shares that became worth twenty seven million dollars when PayPal sold. And then he had twenty seven million dollars to just make all kinds of …”
Chafkin: Thiel Sheltered Investment Income Tax-Free in Roth IRA
“Teal has been pursuing his whole career, this very, very, very aggressive strategy to pay. It's legal, but just exceedingly aggressive strategy to pay almost nothing in taxes on his on most of his income. It's his investment income. Because it's all in a Roth …”