A 50-year-old man utilized a little-known IRS regulation to withdraw $20,000 annually from his retirement fund without incurring any penalties. Here's how he did it.

Reported 6 months ago

A 50-year-old man named Eric Cooper used an obscure IRS rule called Section 72(t) to withdraw $20,000 annually from his retirement savings without facing any penalties. By leveraging this rule, which allows for penalty-free early withdrawals known as Substantially Equal Periodic Payments, Cooper was able to access his IRA funds to support his early retirement while avoiding hefty penalties typically associated with early withdrawals before the age of 59.5.

A 50-year-old man utilized a little-known IRS regulation to withdraw $20,000 annually from his retirement fund without incurring any penalties. Here's how he did it.

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