Roth Conversion timing

[healthiswealth]

In Vanguard I deposited $6500 in my TIRA from my bank account. It's indicating the money is there, but when I check my back account it has not withdrawn yet.

Question, at what point should I convert to ROTH IRA? when the bank transaction goes through?

Not sure if anyone of the info is pertinent.
Tax bracket: 32%
Tax Filing: HOH
Age: 47
No debt
Retirement: low 7 figures
Emergency fund: 6 months
Taxable investment: 6 figures

[retired@50]

Personally, I'd give it a couple days to settle. Then convert to your Roth IRA.

Regards,

[mhc]

Convert when Vanguard lets you.

I usually convert when I get around to it, which is usually a day or two after it is available.

[tibbitts]

I've never experienced this happening with an investment account. It happens with some credit card payments for example; I get credit before the money is with withdrawn from my account. But not with investments, except possibly for a few hours due to differences in the time of day the transactions are processed; but they always happen on the same day (or the withdrawal happens earlier.)

I think the only issue would be converting now would be if the transfer from your bank fails.

[healthiswealth]

Thank you all!

Yes, waiting a few days makes sense.

I thought it was odd that the funds were showing available, and the 'Roth Conversion' button was 'lit up' to convert immediately. I have auto-deposits totally 10k/month from same banking source so not worry about txn failing.

[an_asker]

Convert when Vanguard lets you.

I usually convert when I get around to it, which is usually a day or two after it is available.

This is what I did (Fidelity). The money was debited from my checking and even showed up in Fidelity; however, for a couple of days when I tried to transfer/convert the balance into the Roth account, the transferable amount showed up as zero. So, I checked every day lol, and the first day it showed up, I initiated the transfer/conversion.