How are 72(t) Distributions Taxed?
When it comes to retirement planning, the taxation of distributions is an important factor to consider. One type of distribution that may be available to those who are retired or nearing retirement is a 72(t) distribution. This type of distribution allows individuals to access their retirement funds without incurring the 10% early withdrawal penalty. However, […]
How do you Calculate Substantially Equal Periodic Payments?
When it comes to retirement planning, understanding substantially equal periodic payments (SEPPs) is essential. SEPPs are a type of retirement plan strategy that allows you to withdraw money from your retirement accounts without incurring the 10% early withdrawal penalty normally associated if under age 59 ½ . In this blog post, we’ll discuss how to […]
What Does 72(t) Series of Equal Periodic Payments Mean?
When it comes to financial planning, it is important to understand the various terms and concepts that are used. One such term is “series of equal periodic payments” (SEPP) or “series of substantially equal payments. This term is often used in the context of pre-Age 59 ½ retirement planning and can be a bit confusing […]
What Should I Do 12 Months Before Retirement?
Retirement is an exciting time, but it can also be a bit overwhelming. It’s important to plan ahead and make sure you have your “financial house” in order before you retire. Here are some things to consider doing 12 months before retirement: 1. Create a Retirement Budget Creating a retirement budget is one of the […]