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Who helped you set up your 72t ?
08-14-2013, 10:34 AM
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#1
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Thinks s/he gets paid by the post
Join Date: Sep 2008
Posts: 1,011
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Who helped you set up your 72t ?
Just curious who set up your 72t?
Tax person? Self? Other?
I know the initial set up is critical to avoid issues down the road.
On line calculators make it easy to find the amount, just not sure who to help implement when the time comes.
Rolled over to Vanguard so its going to come out of one spot.
Thanks!
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08-14-2013, 11:45 AM
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#2
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,327
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Don't have a 72t, but have found www.72t to be a great resource. I would probably use the information there including the forum to set up a plan with Fidelity. Hopefully I won't need to go that route.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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08-14-2013, 11:49 AM
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#3
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Recycles dryer sheets
Join Date: Feb 2007
Posts: 193
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I used a combination of 72t.net, Fidelity, and my own calculations - My plan ends this year and I have had not problems - just be careful that you select the correct way of reporting the income to avoid IRS issues. For me Turbo Tax worked fine although not always intuitive.
__________________
Oh Look, a squirrel!
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08-14-2013, 05:00 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Sep 2008
Posts: 1,011
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Thanks for all the info!
"Hopefully I won't need to go that route. "
I don't need to, I want to!
To me its a good glitch in the system. Pulling roughly 4% out annually.
Even if it goes from one taxable account to another, at least some will be freed up over the next 8 1/2 yrs, In case I want to buy another rental, big trip, fund the wife's Roth what ever............. Am going to love my new tax base, so to me now is the time!
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08-14-2013, 10:05 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Jul 2005
Location: Los Angeles area
Posts: 1,708
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I also used www.72t to get the basic info, then set it up myself.
__________________
learn, work, save, invest, fire
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08-15-2013, 06:40 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Oct 2002
Location: Chattanooga
Posts: 3,895
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I researched the topic for a long time and then for a sanity check I had a CPA and Fido run the numbers as well.
A T-72 is not rocket science, just have to understand and follow the rules. It really isn't that hard.
__________________
Earning money is an action, saving money is a behavior, growing money takes a well diversified portfolio and the discipline to ignore market swings.
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