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In Reply to: RE: It's busy everywhere it seems. posted by Norman M on July 29, 2021 at 11:18:09
Work around for Age 62 retirement?
READ THE LINK to rules concerning a 72T withdrawl.
Rues govern maximum amount. I think you must draw for a certan number of years OR until 59 1/2 IIRC.
I did this. My IRA actually GREW during this period since I used (accountant, actually) applied the rules.
I was able to 'bridge' into my SS retirement by this means. And retire a year or MORE after the minimum which incrased my SS draw.
If you are under 60? might still be a viable option. If your tax guy / account doesn't know about this, it is time for a NEW guy......Withdrawls are NOT tax free but ARE without penalty......If yo do it right, you woon't have that much income, anyway.
Too much is never enough
Follow Ups:
Working on week 14 now. I think I'm going to call them Monday to see if I can get a possible ship date.
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