Early Retirement Strategies Using the Rule of 55 and 72(t) Distributions
Considering an early retirement but concerned about penalties for accessing retirement accounts before age 59 ½? There are two IRS-approved strategies that may offer a solution. In this video, we’ll explore Section 72(t), which allows for Substantially Equal Periodic Payments (SEPP) regardless of age, and the Rule of 55, which permits penalty-free withdrawals from a 401(k) if you’ve separated from your employer at age 55 or older. In this video, Kyle McClain, CFP®, CIMA® explains how each option works, when they apply, and how to evaluate which one might be right for your situation.
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IMPORTANT DISCLOSURES:
Rhame & Gorrell Wealth Management, LLC (“RGWM”) is an SEC registered investment adviser with its principal place of business in the State of Texas. Registration as an investment adviser is not an endorsement by securities regulators and does not imply that RGWM has attained a certain level of skill, training, or ability.
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own CPA or tax professional before engaging in any transaction. The effectiveness of any of the strategies described will depend on your individual situation and should not be construed as personalized investment advice.
For additional information about RGWM, including fees and services, send for our Firm Disclosure Brochures as set forth on Form ADV Part 2A and Part 3 by contacting the Firm directly. You can also access our Firm Brochures at www.adviserinfo.sec.gov. Please read the disclosure brochures carefully before you invest or send money.
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