How to I set up a 72t

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L1: How to I set up a 72tI am 55 and thinking of setting up a 72t. Do I go to a retirement specialist? I am not sure how to begin and really don’t understand what the interest rates mean. If I moved a portion to a 72t and used a retirement specialist would the monies be moved over to them or be held in a separate account? Very confused here.2017-04-05 12:31, By: Dale, IP: [75.130.82.26]
L2: How to I set up a 72tWhy do you want to set up a SEPP 72-T ?
Are you still working, or when did you retire ?
Do you have a 401-K, 403-B, and IRA, or more than one of these ?
What is the balance, and how much income are you looking for, net of the related federal and state income taxes ?
There is no such person as a “retirement specialist”, especially one who also understands SEPP 72-T. There are financial planners, tax planners, retirement planners, and estate planners. You need someone who probably understands all of these areas to assist you in PLANNING what to do. This is too complicated an area for you to proceed alone if you have read all of the information on this website, and still are confused how to even start to consider this process.
2017-04-05 15:52, By: dlzallestaxes, IP: [173.59.24.3]