mikex
Dryer sheet aficionado
- Joined
- May 10, 2007
- Messages
- 49
I'm thinking about doing this next year. For some reason the timing of the 72(t) withdrawls messes me up, especially when they talk about age 59 1/2. Where in the world did that come from? What's the reason for the 1/2, why isn't it just your simple age on your birthday? What I'm confused about is if I take annual distributions, do they have to be taken out on the exact same day every year like clockwork? If I start when I'm 54 1/2, then does it end exactly when I'm 59 1/2 (5 years)? What if it was one day earlier or later - is it that exacting? If I start when I'm 54, then I am confused as to what happens when I turn 59 1/2 or in the year I turn 59 1/2. Do I have to take two payments that year or what. Are we talking about exact timings here or just the entire year that you turn a certain age? Any better clarification would be helpful!