How To Retire at 55 with IRA || Retire Early & Avoid Penalties In this video, I want to talk about retiring early with a 72T. This video will help you understand what retirement looks like under the age of 59 1/2 and how you can retire and use your retirement investments for income without paying a penalty. **Free Retirement Download: The Roadmap to Retirement:** 📊 If you have most of your retirement assets in an IRA, simple IRA, or SEP IRA this retirement strategy will help you retire at 55 or retire at 50 or retire at any age under 59 1/2. What is a 72T? A 72T is an IRS rule that allows someone who wants to retire early to take substantially equal periodic payments from their IRAs and avoid the 10% early distribution penalty. There are three methods for determining substantially equal periodic payments for retirement income with a 72T: amortization, annuitization, and required minimum distribution. Once you begin taking retirement income from your IRA using a
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)