Timing of SEEP Plan

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L1: Timing of SEEP PlanMy DOB is 01/01/1963. I want to setup a new SEPP Plan on an IRA of $390K in 2015.I will take annual payments andwill estimate income taxes quarterly based on the projected annual payout. I don’t want to prorate the first and last years and will take the full annual payout in those years. Doesthe monthI start the plan have an affect on the plan?Is there a best time to start the plan for any reason? Are there any factors that will have an impact on when I should start the plan? Thanks in advance for the help.2014-11-19 23:24, By: LABruce, IP: []
L2: Timing of SEEP PlanYou should check the planning pointers on this site. With respect to the starting month, if you want to generate the largest possible distribution from the 390k, watch the interest rates so they do not drop before you start the plan. You can use the highest of the prior two months so there is some management you can apply to when you start the plan. For your account balance, you can use any date in the last 6 months or so that is reasonably close to the IRA value when you start the plan. You would want use a balance that is as high as possible and still be reasonable. Most importantly, your balance will only generate around an annual payout of around 18k or so. Be sure that will be enough so that you will not have to bust the plan as you get closer to 59.5. Allow for inflation of your expenses over the next few years and such things are your medical expenses.2014-11-20 03:48, By: Alan S, IP: []