Suplemental Income until Social Security (age 62)

L1: Suplemental Income until Social Security (age 62)Hi I am retiring early and will need to subsidize my retirement with my 401K that I intend on rolling over into an IRA account. My question is which distribution method should I use? 1] Minimum Distribution Method2] Amortization Method3] Annuitization MethodIs their a tax advantage for one over the other?When I talk to T-Rowe Price about it they say they only use the Minimum distribution method.And that I will need to consult with my tax advisor to use any other method. Why?My plan is to have two IRA accounts one funded with enough funds to provide a Monthly distribution of $600.00.The other in reserve in case $600.00 is insufficient I could split it and take another distribution from it.2002-09-08 19:25, By: Earn, IP: [127.0.0.1]
L2: Suplemental Income until Social Security (age 62)My question is which distribution method should I use? 1] Minimum Distribution Method2] Amortization Method3] Annuitization MethodWhich method to use is a complex question based on all of oyur personal/financial circumstances.Is their a tax advantage for one over the other?No.When I talk to T-Rowe Price about it they say they only use the Minimum distribution method.And that I will need to consult with my tax advisor to use any other method. Why?I don’t know why TRP would say this. The selection of the method is a taxpayer election, namely you, not a trustee/custodian decision. In the case od SEPPs, a custodian does as it is told & if they refuse it is simple to find another custodian. However, seeking the advise of a tax advisor is usually sound advice.My plan is to have two IRA accounts one funded with enough funds to provide a Monthly distribution of $600.00.The other in reserve in case $600.00 is insufficient I could split it and take another distribution from it.Sounds like the beginnings of a plan.TheBadgerwjstecker@wispertel.net 2002-09-09 07:08, By: TheBadger, IP: [127.0.0.1]