Questions from Readers
I was updating my net worth info at NetWorth.Com when I noticed that I had three questions. Wow, I have a few readers out there in cyberspace...awesome! Here are the questions followed by my answers: Cheers posted: "I am curious if I am understanding your profile comments correctly. You max out all your retirement accounts, and because of this, you need to supplement your income with 72t SEPP distributions from your IRAs? So basically, you are still funding your IRA's, but taking 72t distributions at the same time? Is there an advantage to this? It seems like it would make more sense to just cut back on your retirement contributions, so you don't lock yourself into the 5 (or more) years of required 72t distributions." EM : Cheers, good question. My wife and I started our SEPP plans to provide us with a stream on income that will give us more flexibility. Currently, we have a stream of $18,000 per year that we use to pay our mortgage and other living expe...