I have been frugal and saving for a long time. But it’s not as much as you’d think. The amount in non-Roth that I need to convert to see that tax savings is about 250k. The immediate tax hit is not insignificant but will also come from retirement savings that are included in the tax savings plan going forward. I was surprised at the difference in tax to Uncle Sam depending on the strategy used and it took the seven figure number to convince me it was worth the upfront hit. This not only increases the odds my retirement will last to my inevitable end, but that I will leave my heirs something as well. The new law changes many things. It’s worth understanding. All this in my case is dependent on my military pension, which kicks in in about two years, and my company pension which will kick in when I ultimately retire. So it’s a different calculation for everyone depending on your situation. My retirement advisor did the the analysis as it would have been beyond me. But being an engineer, I wasn’t an easy sell. He had to convince me, and he did with numbers.
I do not have either a regular or military pension to fall back on. Lucky me. :-(