Can I take more?
L1: Can I take more?The Sepp Calculator tells me the following:
1] Minimum Distribution Method
My question is, can I take out more than the minimum, say I want to take $75,000 a year for 5 years starting at age 55?2009-06-26 05:25, By: JoelAN, IP: [188.8.131.52]
L2: Can I take more?You can take out $75,000 using the amortization method if you have an IRA balance allocated to the SEPP plan of $1,537,275 as a beginning IRA balance.
If you put in your IRA balance and age and did the calculations, you can take out the amount that was calculated – no more and no less. 2009-06-26 09:46, By: Gfw, IP: [184.108.40.206]
L3: Can I take more?That answers my question, thank you Gfw.
Joel2009-06-26 18:28, By: JoelAN, IP: [220.127.116.11]
L4: Can I take more?If you want to increase the amount of your 72t distribution, do not even consider the MD method. It produces a much lower distribution, produces a different amount each year, requires the risk of new calculations each year, and has no option to reduce the payment by the one time switch to MD since you are already on MD.2009-06-27 01:21, By: Alan S., IP: [18.104.22.168]
L5: Can I take more?One more thing. When calculating your payments options using the calculator, if you will turn 56 sometime in 2009, and payments start in 2009, then you have to use the age of 56 in your calcs, even if you are only 55 when payments start. KEN2009-06-27 02:18, By: Ken, IP: [22.214.171.124]