video1.0<iframe src="https://www.loom.com/embed/ae6c31cfa79d43d0826bebf0ddf23a38" frameborder="0" width="1920" height="1440" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>14401920Loomhttps://www.loom.com14401920https://cdn.loom.com/sessions/thumbnails/ae6c31cfa79d43d0826bebf0ddf23a38-00001.gif232.63Hey there! In this Loom, I address a question from Charlie about the five-year rule with a conversion. I made a mistake in my previous answer, but thanks to my listeners, I can set the record straight. Charlie wants to do a Roth conversion in 2023 and wants to know if he can withdraw the conversion amount and any earnings prior to 2028. The answer is yes, but there's a catch. Charlie has had a Roth IRA with money in it for 10 years and is over 59 and a half, which means he meets the "Golden Rule." If he didn't meet these qualifications, he wouldn't be able to withdraw the conversion amount and earnings without penalty. This is why it's important to have a Roth account early on, even if you're not sure about doing conversions.