Insights and Tips on Financial Planning from Daner Wealth Management

Year after year, Wall Street's market predictions miss the mark. Here's why forecasting fails — and what smart investors do instead.

Many people who have a nonqualified deferred compensation balance assume it works like a 401(k) with looser rules. The two accounts often sit side by side on the same benefits dashboard, get described in the same enrollment meeting, and show up as comparable line items on a net worth statement.

A mega backdoor Roth is a retirement strategy that lets high earners contribute after-tax dollars to a 401(k) beyond the standard $24,500 employee deferral limit, then convert those dollars to a Roth account. In 2026, total 401(k) contributions can reach $72,000, or $83,250 for eligible participants ages 60 through 63.

High earners face a problem that lower earners rarely do: the more money coming in, the easier it is to assume everything is fine. Income creates a cushion that masks structural problems.

Saving too aggressively can rob you of enjoyment today. Finding the right balance between spending and saving is key to a fulfilling retirement.