Craig Wear, CFP®Craig Wear, CFP® | Expert in Roth Conversions & Tax-Efficient Retirement Strategies for IRA Millionaires

Have your Roth IRA Account Ready!

12 Nov 2024 · 0 min

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0:26

A short advisory video by Craig Wear, CFP® recommending that viewers have a Roth IRA already opened and ready before moving funds; he notes that 401(k) plans often require moving money to an IRA but some plans offer an in-plan Roth option or allow in-plan conversions. Viewers should check with their 401(k) plan provider to confirm available options.

You want to have the Roth IRA already open and sitting there ready for you. So the 401k is probably going to require you move the money from the 401k to an IRA. Sometimes the 401k accounts these days have a Roth IRA option inside the plan and they also allow you to convert within the plan. Those are questions that you need to ask of your current 401k plan provider to find out what the possibilities are.