Craig Wear, CFP® explains Roth IRA conversion considerations for different audiences. He emphasizes careful planning for those under age 59, highlights special relevance for individuals with very large IRA balances (the “IRA millionaire” audience), and notes that people with more modest 401(k)/IRA balances face similar tax implications but smaller downstream problems and may need different conversion handling.
A lot of different opportunities there. If you're under 59 I you got to be a little bit careful of how you do it. But again, it still works out great, especially if you're that IRA millionaire that we really try to reach and educate and talk to. This is really going to be worth it to you. If you have a more modest 401k balance, then the the problems down the road are not going to be as big. And so your conversion strategy is probably needs to be handled differently. But the tax implications are the same. And a lot of what I'm saying to you today is still relevant if you have that more modest IRA balance.
