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

What to Know Before Making Deciding on a Roth Conversion

27 Mar 2024 · 0 min

Watch on YouTube

0:29

A short advisory video by Craig Wear, CFP® about things to consider before doing Roth conversions. In this chunk he warns that if most assets in an IRA are large annuities, conversions can be impractical because insurance companies often restrict the ability to convert funds out of those annuity contracts.

So the other one is maybe not as prevalent for everybody. But the last reason that we've seen that is probably not a good reason to do conversions is if most of your assets in your IRAs are large annuities. And the reason for that isn't because it's an annuity necessarily. It's normally because the insurance companies place specific limitations on your ability to do a lot of conversions out of those contracts.