Hi, I'm 52, live in Florida and have 1M in my retirement plan. 900k in employer plan and 100k in 403b. Ive been in and out of this forum for sometime and always appreciated the personal stories and advice given. After 30 years, I'm ready for my second act. I'm contemplating doing SEPP under IRS 72T rules. I understand if it's not set up correctly, penalties, penalties, penalties.
Can I roll my retirement into immediate annuity for this purpose instead of the 72T and receive payments without penalty before 591/2? I have also been told to stay away from annuties all together.
Other circumstances include my disabled wife and two in college. Of course my second act will have to include medical benefits.
Any advice is greatly appreciated.
Can I roll my retirement into immediate annuity for this purpose instead of the 72T and receive payments without penalty before 591/2? I have also been told to stay away from annuties all together.
Other circumstances include my disabled wife and two in college. Of course my second act will have to include medical benefits.
Any advice is greatly appreciated.