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72T question about additional income
Old 01-31-2007, 12:03 PM   #1
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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.
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Re: 72T question about additional income
Old 01-31-2007, 12:10 PM   #2
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Re: 72T question about additional income

There is no limitation at all, not to my knowledge.
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Re: 72T question about additional income
Old 01-31-2007, 12:15 PM   #3
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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.
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Re: 72T question about additional income
Old 01-31-2007, 05:41 PM   #4
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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
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