Need Basic Info – New to this!

L1: Need Basic Info – New to this!
I am a male (DOB: 5/23/55) and have a total IRA portfolio of 550K. I would like to start a 72t early next year, probably March or April. However, this whole process is a mystery to me. I don’t even know if the numbers I am putting into the calculator
are correct. Can you please explain:
What is a federal funds rate?
My 550K is spread around several different funds. Can I use the total amount, or can I use the total for the calculation?
I ama trying to find a CPA who can walk me through this process, but apparently no one in the Phoenix area knows anything about them!
Can someone get me started in the right direction?
2011-11-05 02:54, By: Jim, IP: [71.223.156.197]

L2: Need Basic Info – New to this!
What is a federal funds rate?
Search Google. However, the federal funds rate has nothing to do with a SEPP plan. The maximum interest rate that you can use is the 120% Mid-Term rate for either of the 2 months immediately before the month in which the first distribution occurs. You can find
additional information on SEPP interest rates athttp://72t.net/72t/InterestRates/AFR/Mid-Term
Can I use the total amount, or can I use the total for the calculation?
You can use the total amount, but any amount allocated to your SEPP becomes subject to SEPP restrictions. You can also use multiple IRA accounts, but by doing so, you are making the plan overly complicated. The more complicated the plan, the more subject it
is to errors.
Start by reading through our planning pointers at http://72t.net/72t/Planning/Pointers. Then also read through our SEPP FAQ athttp://72t.net/72t/FAQ. For heavier reading
material check out Bill Stecker’s book athttp://72t.net/72t/Sponsors/Stecker/PracticalGuideto72(t)
Whether or not you seek professional help, you want to make sure that you know enough so that you recognize any potential problems. Regardless of who is helping you, an IRA is between you and the IRS.
2011-11-05 16:17, By: Gfw, IP: [205.178.73.77]