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

Should you convert all your money to a Roth IRA at one time?

13 Feb 2025 · 1 min

Watch on YouTube

0:49

Short excerpt from a YouTube video by CFP® Craig Wear discussing whether to convert an entire traditional IRA to a Roth in one year versus spreading conversions over multiple years. The speaker argues that common objections to converting (being in a high tax bracket or making too much money) are often incorrect for "IRA millionaires," and suggests conversions are usually beneficial unless the individual currently relies heavily on IRA withdrawals for living expenses and lacks other assets to pay the conversion taxes.

Chapters

Let's talk about this. Comparing those strategies of taking 100% of your IRA and convert it all on a single year, or spreading it out over multiple years. And I want to, I want to really just call out the importance of Roth conversions for you. If you're an IRA millionaire, what I call an IRA millionaire, the reasons that somebody has told you not to do Roth conversions are probably wrong. You're into high A tax bracket. Wrong. You are making too much money this year, which is kind of related, but wrong. We've seen so many situations, and we just know that if you're an IRA millionaire, unless you're withdrawing a large percentage of your IRA currently to live on, and you have no other assets to pay taxes on, then probably we would end up showing you a different way to get things done.