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Single vs Joint Calculation

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Last Updated On
BySteve

L1: Single vs Joint CalculationHi, Is there a rule preventing election of either single or joint calculation? If married must we select joint calculation? Looking for the lowest asset amount to produce a given monthly income using 72T calculator.
Excellent resource here and I”ll try demo of software too!
Best regards,
Steve E2006-07-25 22:39, By: Steve, IP: [12.216.166.186]

L2: Single vs Joint Calculation
Joint or single life is available. However, rather than using the joint calculations to produce a lower income, start with single life calculations and an interest rate (any rate less than the maximum) and play with the reverse calculator to determine the amount required to produce your desired monthly income.

Once the amount is determined, merely divide your IRA into two or more accounts (preferably with different Trustee/Custodians).

By dividing the account, the non-SEPP account can be used for emergencies, etc. without impacting the SEPP.

Good luck!2006-07-26 04:50, By: Gfw, IP: [172.16.1.71]

L2: Single vs Joint CalculationI suggest also doing calculations of 2 separate SEPP 72-T plans for husband and spouse independently. Try juggling the figures to get the desired result of withdrawals with the least asset amounts being tied up in the plan. That will give you greater flexibility if unexpected needs arise.2006-07-26 09:43, By: dlztaxes, IP: [4.175.9.187]

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