What is the difference between a Roth conversion ladder and Rule 72(t) for early access?

Both let you tap retirement money before 59.5, but they work very differently. A Roth conversion ladder requires planning ahead: you convert traditional dollars to Roth, wait the IRS-required five years on each conversion, then withdraw those amounts penalty-free, so it needs a five-year bridge of other savings to start. Rule 72(t), also called SEPP (substantially equal periodic payments), starts income immediately: you commit to taking a fixed, IRS-formula-based amount from an IRA every year for at least five years or until 59.5, whichever is longer, with no penalty. The 72(t) trade-off is rigidity, because changing or stopping the payments early triggers retroactive penalties. Many retirees prefer the ladder for its flexibility and use 72(t) only when they need penalty-free income right now and can't wait five years.