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VTUD

Joined: 08/15/2002 Posts: 16810
Likes: 6073

What's this?

There is also


the option of using the 72t distribution which avoids a tax penalty,at least with an IRA. I used it. You have to take a fixed amount out of your IRA for 5 years or until you are 59 1/2,whichever is longer. I would guess you could roll 401-k money over into an IRA if needed. Check with a tax specialist.

(In response to this post by FfxStationHokie)

Posted: 08/05/2021 at 11:30AM


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Current Thread:
 
  Anybody know about the 'Rule of 55'? -- FfxStationHokie 08/05/2021 11:10AM
  There is also -- VTUD 08/05/2021 11:30AM
  Yeah, it's a tax, it's gone -- `lag 08/05/2021 11:26AM
  I bet the local gov't would love that though. -- MP4VT2004 08/05/2021 12:36PM
  I did that when I was laid off in 2010 at age 57 -- Hokie in CT 08/05/2021 11:22AM
  I am familiar with it and I believe ... -- vt90 08/05/2021 11:21AM
  I'm reading up on this, too. More info please! ** -- RhinoVT 08/05/2021 11:19AM

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