72T question about additional income

testtubes · 01-31-2007, 12:03 PM

Can any of you tell me if there are any restrictions on outside earnings while drawing income from an IRA under the rules of 72T.

Example: If I retire at 55 and my income is soley derived from my wife's pension and $45k I withdraw annually from my IRA account under the rules of 72T, can I make money from say a partime job on the side? Are there limitations as to how much I can make on the side?

I know there are limitations once I start drawing SS but I am looking at the seven year bridge until SS.

Sam · 01-31-2007, 12:10 PM

There is no limitation at all, not to my knowledge.

SteveR · 01-31-2007, 12:15 PM

No other income concerns with 72(t) beyond just the additional income taxes on a higher income. Nothing in the 72(t) is affected by any other sources of income as the calculation only addresses your IRA balance and the formula you use.

albundyz · 01-31-2007, 05:41 PM

FYI

there is a website you might want to check out.

72t.net

has a discussion board where you can ask questions and (seemingly) very knowledgeable responders

also has other 72t information that might interest you

01-31-2007, 12:03 PM	#1
testtubes Dryer sheet wannabe Join Date: Jan 2007 Posts: 19	72T question about additional income Can any of you tell me if there are any restrictions on outside earnings while drawing income from an IRA under the rules of 72T. Example: If I retire at 55 and my income is soley derived from my wife's pension and $45k I withdraw annually from my IRA account under the rules of 72T, can I make money from say a partime job on the side? Are there limitations as to how much I can make on the side? I know there are limitations once I start drawing SS but I am looking at the seven year bridge until SS.

01-31-2007, 12:10 PM	#2
Sam Thinks s/he gets paid by the post Join Date: Mar 2006 Posts: 1,743	Re: 72T question about additional income There is no limitation at all, not to my knowledge.

01-31-2007, 12:15 PM	#3
SteveR Moderator Emeritus Join Date: Jul 2005 Posts: 2,675	Re: 72T question about additional income No other income concerns with 72(t) beyond just the additional income taxes on a higher income. Nothing in the 72(t) is affected by any other sources of income as the calculation only addresses your IRA balance and the formula you use. __________________ Work? I don't have time to work....I'm retired.

01-31-2007, 05:41 PM	#4
albundyz Recycles dryer sheets Join Date: Feb 2006 Posts: 60	Re: 72T question about additional income FYI there is a website you might want to check out. 72t.net has a discussion board where you can ask questions and (seemingly) very knowledgeable responders also has other 72t information that might interest you __________________ * using an 8.5% withdrawal rate *

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