Secret IRS Rule 72(t)! | Eric Cooper Shares Early Withdrawal Hack!
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Description
Join Eric Cooper and Stephen Baughier with host David Baughier for a fun-filled, informative deep dive into the world of IRS 72(t) Early Withdrawal Strategy on "Forget About Money" podcast. ๐ŸŽงย  Chapters ๐Ÿ“šย  0:00:00 Introduction to Financial Independence and 72(t) Strategy ๐ŸŒˆย  0:01:28 FinTalks Cruise Shenanigans and Bets ๐Ÿ›ณ๏ธ๐Ÿ’ฌย  0:02:56 Drama-Free FinTalks Cruise ๐Ÿคฟย  0:04:45 Ski Trip Injuries and Retirement Decision ๐ŸŽฟโ›ท๏ธย  0:06:10 Bougie the Cat ๐Ÿฑ๐Ÿกย  0:07:15 Military Recruitment and Son's Future Plans ๐Ÿช–๐ŸŒŸย  0:09:10 Early Retirement Obstacles and Financial Planning Shift ๐Ÿ’ผ๐Ÿ”„ย  0:10:54 Mystery of 72(t) IRS Code and Recent Changes ๐Ÿ•ต๏ธโ€โ™‚๏ธ๐Ÿ”ย  0:14:15 Eric's Financial Snapshot and Approach to 72(t) ๐Ÿ’ฐ๐Ÿค“ย  0:16:27 Stephen's Inquiries and Simplifying 72(t) Explanation ๐Ÿค”๐Ÿ—ฃ๏ธย  0:19:37 Detailed Discussion on 72(t) Mechanics and Methods ๐Ÿ”ง๐Ÿ“ˆย  0:22:33 Choosing the Fixed-Term Annuity ๐Ÿ’นย  0:23:11 Resourceful Websites for Financial Planning ๐ŸŒ๐Ÿ“šย  0:24:14 Exploring Different IRA Methodologies ๐Ÿค–๐Ÿ”ฌย  0:25:40 Flexibility in Adjusting Withdrawal Methods ๐Ÿง˜โ€โ™‚๏ธ๐Ÿ”„ย  0:26:08 Transitioning from Landlord to Traveler ๐Ÿกโœˆ๏ธย  0:26:58 Embracing the 72(t) for Financial Freedom ๐Ÿค—๐Ÿ’ธย  0:29:41 Detailed Itinerary of Travel Adventures ๐Ÿ—บ๏ธ๐ŸŒย  0:32:08 Understanding the Rule of 55 ๐Ÿ“๐Ÿ‘ดย  0:34:11 Tips and Cautionary Tales for 72(t) ๐Ÿšจ๐Ÿ’กย  0:36:16 Timing Considerations for 72(t) โฑ๏ธ๐Ÿค”ย  0:37:36 Reflecting on High School and Sibling Rivalry ๐Ÿซ๐Ÿ‘ฌย  0:40:22 Light-Hearted Banter and Accent Challenges ๐Ÿ˜‚๐Ÿ—ฃ๏ธย  0:42:38 Hilarious Sign-Offs and Goodbyes ๐Ÿ˜†๐Ÿ‘‹ Hosted by: David Baughier and Guest Host Stephen Baughier Social Media: @forgetaboutmoney YouTube: @forgetaboutmoneypodcast Website References: Dare to Drawdown [https://www.daretodrawdown.com/] ๐Ÿš€ย  ย MyFRS 72(t) Calculator [https://www.myfrs.com/calculators/Retire72T.html] ๐Ÿงฎย  Marks Money Mind - The Fun Bucket [https://marksmoneymind.com/the-fun-bucket-overcoming-the-frugality-mindset] ๐Ÿชฃ ย  IRS - 72(t) Rules [https://www.irs.gov/retirement-plans/substantially-equal-periodic-payments] ๐Ÿ“œย  72(t) vs Rule of 55 [https://smartasset.com/retirement/rule-of-55-vs-72t] ๐Ÿ“œย 
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