Where Should My Next Dollar Of Savings Go?

✅ Want a personalized plan for where your next raise or bonus should actually go? Book a free intro call → https://www.createwealthfp.com/ You got the raise. Now what? If you've already checked the basics, emergency fund, credit card debt, and your 401(k) match, you're ahead of most people. But high earners often hit a wall right here. They either dump everything into a brokerage account without thinking, or they freeze up because they're not sure what the smartest move actually is. In this video, Jeff McDermott, CFP® at Create Wealth Financial Planning, walks through a savings order of operations built specifically for high earners. These aren't beginner tips. These are the checkpoints that actually move the needle when your income is high and the tax stakes are real. Here's what's covered: 1. Confirm your foundation is truly solid (it might not be what you think) 2. Why the HSA is arguably the most tax-efficient account in the entire tax code 3. Maxing your 401(k) and the Roth vs. traditional question at higher incomes 4. The Backdoor Roth IRA, including the pro-rata rule you need to know about 5. The Mega Backdoor Roth, a powerful tool most people have never heard of 6. When a taxable brokerage account becomes your best remaining option The further down this list you go, the more the details matter. Miss a nuance on the Backdoor Roth, and you could create an unexpected tax headache. Get it right, and you're stacking serious tax-free growth for decades. _ _ Timestamps: 01:00 Make sure these boxes are already checked 01:54 Revisit your HSA 03:14 Top of your 401(k) 03:54 Backdoor Roth IRA 05:00 The Mega Backdoor Roth 06:14 Fund a brokerage account 07:36 Have a pro help you organize and implement your strategy _ _ Create Wealth Financial Planning, LLC (CWFP) is a registered investment advisor offering advisory services in the State of FL and in other jurisdictions where exempted. All content on this site is for informational purposes only. Portions of this content may have been generated with the assistance of AI tools. Investing involves risk and the potential for loss. Please speak with a financial professional to evaluate your personal situation before taking action on any items discussed on this page. Comments and reactions by viewers are not a guarantee of future investment outcomes and are beyond the control of Jeff McDermott and Create Wealth Financial Planning. Public comments are not selected, amended, deleted, or sorted by CWFP, although personally identifiable information, scam or fraud messages, and misinformation may be removed. Create Wealth Financial Planning is a financial advisor serving mid-career professionals, Executives and Directors, Business Owners, Gen X and Gen Y (35-55 years old), young families, rising career professionals with growing income, those with student loans or other debt, and individuals starting to build wealth.