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

The Ultimate Guide to Roth Conversions

24 May 2024 · 1 min

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0:31

This YouTube video (hosted by Craig Wear, CFP®) explains what Roth conversions are, how they move funds from taxable or tax-deferred accounts into Roth accounts, and clarifies the difference between a Roth conversion and a Roth contribution. The content aims to teach viewers the tax implications—specifically that taxes are paid on conversion—and practical considerations for performing conversions.

Chapters

So the way to get money from the taxable or tax deferred accounts over to the Roth, which is tax free, is through something called a Roth conversion. And unless you've been kind of living under a rock, you've heard of what a Roth conversion is. But it can be a little bit complicated, especially when a lot of people confuse Roth conversion with a Roth contribution. So a conversion is a way that you get money from the tax deferred account over to the Roth tax free account and you pay tax along the way to make that done.