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Another Account Balance Question

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Bylar_in_mo

L1: Another Account Balance Question This is a Great WebSite!!
Thanks, Mr. Stecker, for the prompt reply. I am definitely buying your Book and recomending it to all of my AT&T retiree friends.
Reading your answer and some of the questions from others, am I correct in assuming that if a person has money in both an IRA and a 401k plan and needs to start a SEPP using both balances, he doesn”t have to roll the 401k balance into the IRA or start a seperate IRA? Could the calculation be based on both balances, the money drawn from the IRA, and the 401k left intact as long as the IRA had enough money to fund it? I really didn”t want to touch the 401k but needed the amount to make the withdrawals large enough to live on. This would be perfect for my situation but I have not seen this possibility discussed before. (I was 51 when I retired form AT&T, am 56 now, and therefore just can”t get any thing I want from the 401k)

2003-12-27 10:33, By: lar_in_mo, IP: [69.23.114.147]

L2: Another Account Balance Question Reading your answer and some of the questions from others, am I correct in assuming that if a person has money in both an IRA and a 401k plan and needs to start a SEPP using both balances, he doesn””t have to roll the 401k balance into the IRA or start a seperate IRA?
Correct.
Could the calculation be based on both balances, the money drawn from the IRA, and the 401k left intact as long as the IRA had enough money to fund it?
Yes.
I really didn””t want to touch the 401k but needed the amount to make the withdrawals large enough to live on.
Not a problem.
This would be perfect for my situation but I have not seen this possibility discussed before. (I was 51 when I retired form AT&T, am 56 now, and therefore just can””t get any thing I want from the 401k)
It’s all covered in the book.
TheBadger
wjstecker@wispertel.net
2003-12-27 11:05, By: TheBadger, IP: [38.116.134.130]

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