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Old 03-12-2020, 08:08 PM   #21
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Originally Posted by 48Fire View Post
What are the other ways to draw penalty free from an IRA? Might help to educate some
Probably most applicable - google 72-T

https://www.investopedia.com/terms/r/rule72t.asp

https://www.investopedia.com/terms/s/sepp.asp

-ERD50
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Old 03-13-2020, 06:20 AM   #22
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OK, thanks. I didn't mention in my initial post that one of the biggest reasons I was celebrating turning 59 1/2 was that it also marks the end of my 72t

I started my 72t when I was 53, so it was 6 1/2 long years of a commitment. Fortunately, there was no COVID-19, Dot-com bubble, or financial crisis during this.

So it's not just my ability to withdraw at 59 1/2, it's my ability NOT to withdraw. Doing so last month would have busted my 72t
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Old 03-19-2020, 05:44 PM   #23
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Old 03-19-2020, 05:55 PM   #24
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Not to be a downer, but it hasn't escaped me that being 59.5 means I get to turn 60 (and officially high risk) just in time for "peak Corona" this summer...
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