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

The Truth About Roth Conversions

14 Jun 2024 · 0 min

Watch on YouTube

0:24

A short YouTube video by Craig Wear, CFP® that corrects a common misconception about Roth IRA conversions: while many believe converted funds must remain in the Roth for five years, the speaker explains that individuals aged 59½ or older may withdraw the converted amount immediately without waiting five years.

One of the things that people have that is really bad information is everybody believes that when you do a Roth conversion, you have to leave the money there five years. And that's, that's true for a lot of people. But if you're 59 and a half years old or older, you do not have to leave the money that you converted from an IRA in a Roth for five years. You are able to immediately withdraw the amount you converted.