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L1: Forum MailI’m contemplating at the begining of 2006onthe 72t Amortization plan.I’m 57 years youngwhat makes more sensetakingout a cash withdrawl $50,000.00 and paying the penaltys up front and waiting till 59 1/2waving the 10% penalty and not being locked in for 5 yearsor go with the 72T program pay 10% penalty plus Fed and State taxes at the end of the yearfor5 years at a 10-15% tax bracket. Early cash withdrawl penaltys vs 10% plus Fed/State taxes on approx.$13,000./yearfor 5 years? Please advise, thanks. 2005-11-05 20:30, By: Diana911, IP: [209.179.251.112]
L2: Forum MailTalk to an accountant or financial advisor to see if there is some way to get you to 59 1/2 without a SEPP 72-T plan. Further, if you are single, you will be in the 25% federal income tax bracket (plus state income taxes, except in PA) which starts at about $ 30,000. (Head of household 25% bracket starts at $ 40,000. Joint return 25% tax bracket starts at $ 60,000, so there you might be in the 15% tax bracket if you have no other income (after deducting the standard or itemized deductions and personal exemption(s). But, if you only need $ 13,000 per year for 5 years, then ok. You might consider a combination by not putting all of your IRA accounts into the SEPP 72-T plan. You didn’t mention how much they amount to. Did you check the calculation on this website ?2005-11-06 00:12, By: dlztaxes, IP: [4.175.9.91]

L2: Forum MailDiana:
I have read and re-read your post, and I come up with the same thing … I do not believe you have a good understanding of either pre-591/2 orpost 591/2 distributions, and how 72(t) fits in. My suggestion is for you to find a good financial planner and a CPA, both with good understnadings ofyour situation so you get things set up correctly and with a methodology which is best for your situation.
Good luck.
Jim2005-11-06 11:27, By: Jim, IP: [70.184.1.35]

L2: Conversion CompleteTest – new mail server.2005-11-03 20:59, By: Gfw, IP: [172.16.1.72]