72t from 2 seperate IRA”s

L1: 72t from 2 seperate IRA”sCan I use the sum of 2 IRA”s to calculate my 72t and then only use one for my monthly expenses? Thanks, Rick2003-04-01 23:52, By: bonusmon, IP: [127.0.0.1]
L2: 72t from 2 seperate IRA”sIf you substitute “monthly SEPP withdrawals” for “monthly expenses”, then the answer is yes.
TheBadger
wjstecker@wispertel.net
2003-04-02 07:03, By: TheBadger, IP: [127.0.0.1]

L2: 72t from 2 seperate IRA”sSo if I understand it right. I could put 320,000 in a bank IRA and 400,000 in a brokerage account IRA,using the sum of the two and only take out say 38,000 from the bank IRA a year?2003-04-02 08:01, By: bonusmon, IP: [127.0.0.1]

L2: 72t from 2 seperate IRA”sHello bonusman:
Yes, but for the obvious that at today”s interest rates; the bank IRA will only last about 10 years; after which you would be forced to go to the brokerage IRA as necessary to continue the distributions.

TheBadger
wjstecker@wispertel.net
2003-04-02 08:08, By: TheBadger, IP: [127.0.0.1]

L2: 72t from 2 seperate IRA”sI assume if this process is used, then both IRAs would be “restricted” to the closure of the 72(t), either age 59 1/2 or 5 years whichever is longer? In other words, if the applicant became 59 1/2 before the 5 years from starting the 72(t) ended then both IRAs would still be subject to wtihdrawal restrictions.2003-05-21 21:34, By: John, IP: [127.0.0.1]