72T tax free

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L1: 72T tax freeI found a web site where an individual states “I might point out that ALL the 72 (t)’s I do for my clients, I arrange it so approximately the first TWO YEARS of income you withdraw are TAX FREE !” How is he doing this on ALL his clients?2002-02-21 14:34, By: Bob, IP: [127.0.0.1]
L2: RE: 72T tax freeI’m sure that the IRS would also love to know – why not post the address of the site that contains the information?2002-02-24 05:54, By: gfw, IP: [127.0.0.1]

L2: RE: 72T tax freewww.moneymanagement.info/72T.html2002-02-25 09:33, By: Bob, IP: [127.0.0.1]

L2: RE: 72T tax freewww.moneymanagement.info/72T.html appears to be a registered but not active domain.2002-02-25 13:33, By: Gfw, IP: [127.0.0.1]

L2: RE: 72T tax freeI double checked it and it is correct and active.2002-02-26 13:46, By: Bob, IP: [127.0.0.1]

L2: RE: 72T tax freeI tried it (http://www.moneymanagement.info/72t.html) again and here is what I find… www.moneymanagement.infowas registered by Netbenefit on behalf of a customer. We have set it to point to this page to let you know that the name is active, though its owner has not yet chosen to point it to its own web site.2002-02-26 13:52, By: Gfw, IP: [127.0.0.1]

L2: RE: 72T tax freeThat’s weird, I tried getting to it by entering the address and couldn’t get it either. I found the link by just entering 72t and it was on the second page titled “72t early IRA withdrawals without penalty”. I know all browsers work differently, but if you find it the link works.2002-02-26 15:17, By: Bob, IP: [127.0.0.1]

L2: RE: 72T tax freeThe link… http://www.inficad.com/~moneymanager/72T.htmlSorry, I don’t put much faith in his claims of providing tax-free income. Any funds withdrawn, while free of the 10% penalty, are taxable as ordinary income.A few comments about some of the statements on the page… First, I know some banks that will do a 72t, fixed annuities can be used (just like variable annuities) to fund the plan, and the last investment that I would choose is a variable annuity – unless it was a no-load, no-commission product like the one from Vanguard. With any annuity, you run the danger of withdrawals exceeding the annual annuity surrender penalty-free amountMy choice for funding would be a family of mutual funds with no front end loads, no back end loads and no charges to move between the investment alternatives. Just my thoughts.2002-02-26 16:33, By: Gfw, IP: [127.0.0.1]