The Two 5-Year Roth IRA Rules Explained | Here's How They Work
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Published 2022-01-01
In this video we walk through both 5-year rules. We'll cover what they are, how they work, and what it means for retirement savings.
These are complicated rules, so be sure to check out the resources below. And as always, consult a tax professional before making any decisions.
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Video Resources
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IRS Publications--
www.irs.gov/publications/p590b
www.irs.gov/retirement-plans/ten-differences-betwe…
www.forbes.com/sites/bobcarlson/2021/09/29/what-yo…
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Investing Tools
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My Book (Retire Before Mom and Dad): amzn.to/2MsRJ9B
Personal Capital (Investment Tracking, Retirement Planning): robberger.com/go/personal-capital/yt-5year-rule
New Retirement (Retirement Planner): robberger.com/go/new-retirement/yt-5year-rule
Stock Rover: robberger.com/go/stock-rover/yt-5year-rule
M1 Finance $30 Bonus (IRA & Taxable Accounts): robberger.com/go/m1finance-bonus/yt-5year-rule
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Credit Cards & Banks
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Wells Fargo Active Cash (Cash Back): www.allcards.com/go/wf-active-cash/yt-5year-rule
Chase Sapphire Preferred (Travel): www.allcards.com/go/sapphire-preferred/yt-5year-ru…
U.S. Bank Visa Platinum (0%): www.allcards.com/go/usbank-visa-platinum/yt-5year-…
Axos Bank (High Yield Savings): www.allcards.com/go/axos-savings/yt-5year-rule
OnJuno (free checking): www.allcards.com/go/onjuno/yt-5year-rule
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ABOUT ME
While still working as a trial attorney in the securities field, I started writing about personal finance and investing In 2007. In 2013 I started the Doughroller Money Podcast, which has been downloaded millions of times. Today I'm the Deputy Editor of Forbes Advisor, managing a growing team of editors and writers that produce content to help readers make the most of their money.
I'm also the author of Retire Before Mom and Dad--The Simple Numbers Behind a Lifetime of Financial Freedom (amzn.to/3by10EE)
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All Comments (21)
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I commend you for this video. Everything you said in this was 100% accurate. I have seen other people’s videos that were woefully wrong about the rules for Roth IRAs. This one video is ALL that anyone needs to know about Roth’s. Again, very well done!!
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Also worth noting, the 5-year clock for Roth conversions starts on Jan 1st of the year you do the conversion. So if you do a conversion in December, you really only have to wait about 4 years to be able to access the money from that conversion.
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I knew about the 5 year rule but I didn’t know once 1 account is satisfied any additional Roth account is satisfied going for. Super useful information.
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Nicely done! I just shared with several friends who routinely ask about this.
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Great video.I've read lot on this subject over time and was still unsure on exactly how the rules applied . You have clarified things in my mind.
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Very well described. Thanks Rob for helping people like me who try to do as much DIY as possible.
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This is so well done. Thank you for the detailed -- and accurate -- explanation on this topic.
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Thank you for this! I was just thinking this morning that I will need to do a Roth conversion this year, and this video answered all the questions I had.
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Great presentation, Rob - my mind didn't even begin to numb. ☺️ Very pleased to hear the IRS actually does something that benefits us!
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Thanks for explaining this Rob. I think I got it all now. Thanks for sharing!
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Outstanding content! Thank you!
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Rob: you do such a great job of making the complex seem simple. That is no easy task and I really appreciate your efforts!
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Thank you!!!! I have the IRS publication you are explaining, and I glazed over while reading it. You were very clear in explaining this complex topic.
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Great work. Very clear explanation. Thanks!
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The content on this channel is top notch with full of information.
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Thank you so much! This is the best explanation I have run across. I finally understand. 😀
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FINALLY. Have been trying to find an easy to follow on 5-Year rules related to IRA to Roth conversions. Nothing has tied it all together. as succinctly .as Bob Berger's video. Thanks.
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Thank you for some enlightening information!
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Thank you Rob for the detailed explanation of the five year rules. Good news for me is that I have contributed to my Roth IRA fro. 2016 till now with out missing to contribute to max per year. I hope most of the people contribute to ROTH IRA and save for retirement. Regards, Sunil
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Your video is clear and the slides helps a ton. Really appreciate and subbed.
