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Secret IRS Rule 72(t)! | Eric Cooper Shares Early Withdrawal Hack!
Forget About Money
Navigating Flexibility with IRS Rule 72(t) Withdrawals
IRS Rule 72(t) allows for flexibility in withdrawals from retirement accounts, enabling adjustments to be made based on individual financial needs over time. Once you initiate payments, you can make one adjustment to switch methodologies, such as moving from a fixed annualization to a required minimum distribution, which allows for a decrease in withdrawal amounts. Importantly, this change applies to each specific account separately, not the individual as a whole. This means that if financial circumstances change, such as an increase in tax liabilities or healthcare subsidy concerns, individuals can opt for a second 72(t) withdrawal from a different account to access more funds when necessary. This flexibility requires strategic planning to optimize withdrawals while maintaining compliance with IRS regulations.
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