Yoheadden
Recycles dryer sheets
- Joined
- Jul 27, 2019
- Messages
- 421
DW and I are planning on being in the class of 2024 at the age of 54. After all of the retirement calculators, reading and planning, we felt we were in good shape, but just wanted a second opinion. Sure, you can always go back to work (if you want to), but this is one of the biggest decisions of our lives and we want to get it right. Our accountant recommended a fee only FP to look over our situation, who after meeting with, we hired and yes, he agrees we are in good shape.
One of the key components of his plan for us, to at least bridge the gap, between ER and turning 59 1/2 is the use of 2 72tSEPPs. One for each of us. DW and I have very similar account balances in Roth, Simple and Sep accounts. I believe the idea of using 2, instead of just one of ours is to not run down just 1 account with bigger withdrawals and spread the risk, should something happen with the withdrawals of not being taxed on just 1 account.
I’m curious, is anyone using 72tSEPPs to help them to get to 591/2?
Which method did you choice and why ?
Do you take your payments monthly, quarterly or as 1 annual lump sum ?
One of the key components of his plan for us, to at least bridge the gap, between ER and turning 59 1/2 is the use of 2 72tSEPPs. One for each of us. DW and I have very similar account balances in Roth, Simple and Sep accounts. I believe the idea of using 2, instead of just one of ours is to not run down just 1 account with bigger withdrawals and spread the risk, should something happen with the withdrawals of not being taxed on just 1 account.
I’m curious, is anyone using 72tSEPPs to help them to get to 591/2?
Which method did you choice and why ?
Do you take your payments monthly, quarterly or as 1 annual lump sum ?