Forget About Money

Secret IRS Rule 72(t)! | Eric Cooper Shares Early Withdrawal Hack!


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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 ๐Ÿš€ย 

ย MyFRS 72(t) Calculator ๐Ÿงฎย 

Marks Money Mind - The Fun Bucket ๐Ÿชฃ ย 

IRS - 72(t) Rules ๐Ÿ“œย 

72(t) vs Rule of 55 ๐Ÿ“œย 

...more
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