Bob RichardsIf you work for a company and do not own at least 5% of the company, you don’t need to take distributions until April 1 of the year after you retire, regardless of your age. You can even be working part time. This exception applies only to the plan of the company for which [...]

Bob RichardsPreviously, we discussed Section 72t and the ability to remove funds from an IRA before age 59 ½ using substantial equal periodic payments. There are other ways to avoid the 10% penalty, and here is a list. IRC section 72(t) penalty exemption Major restrictions Distribution due to the disability of a participant. – Participant [...]

Bob RichardsOver 4,000 people reach the age of mandatory IRA distributions every day. Some have $100,000 to $1 million+ in their plans. Do you ignore this market? When IRS “simplified” the IRA distribution rules in January 2001, many advisors mistakenly believed that there was no longer an opportunity to gain IRA assets through IRA distribution [...]