72T

L1: 72T I am 53 and I will be retiring in July of this year. My soon to be former employer does not offer an SEPP option in my 401K account. Can anyone recommendwhere I should go to get one set up? I have other accounts with UBS, Charles Schwab and Mass Mutual does anyone have experience using any of these companys for this service? Should I expect to pay a fee for this service? What is reasonable?
I have $1600000 that I would dedicate to theplan. I can invest it at 6%and take out 5%(less than the max allowed) and theoretically the account balance should grow during the life of the plan.Am I thinking right on this?
Thanks in advance.
2006-05-16 07:24, By: lowrider, IP: [65.66.121.253]

L2: 72T>>I can invest it at 6%and take out 5%(less than the max allowed) >> and theoretically the account balance should grow during the life of the plan
Let”s start with the simple part first – the rate that you can invest at has nothing to do with the amount that can be distributed. Start by using the calculators and entering the details – the amortization method will always produce the highest payment – it may be more than or less than the 5% you mention.
Thentalk to your accountant – July is still a few months away and it leaves you time to browse this site for additional information and you may even want to consider purchasing Bill”s book – learn what you are getting into before you start. And make sure that you have funds outside the SEPP in case of an emergency.
This site is not here to offer investment advice or to tell you where to move your money.Give each a call and ask them the questions relative to how they handle a SEPP.2006-05-16 07:38, By: Gfw, IP: [172.16.1.74]