I'm looking for some opinions on whether a early retiree, after rolling over their 401K money, should draw income from this money under the 72T rules, or just pay the extra 10% tax, and only draw money when and if needed.
I realize that not using the 72T plan could cost me 4 to 5K a year in extra taxes but I wouldn't be locked in to a five year plan in the event I need to change my withdrawel rates in the event of a downturn in the economy.
Anyways, just looking for opinions on the best way to draw income from a rolled over 401K plan.
I realize that not using the 72T plan could cost me 4 to 5K a year in extra taxes but I wouldn't be locked in to a five year plan in the event I need to change my withdrawel rates in the event of a downturn in the economy.
Anyways, just looking for opinions on the best way to draw income from a rolled over 401K plan.