Finance Questions? Ask a Financial Expert for Answers ASAP
Thanks for requesting me!
Yes, I can do some 72T calculations for you if you give me the pertinent information
Megan, the client's Date of Birth is 02/22/1958. The Beneficiary is 02/08/1954. I will use 1,000,000 as the IRA value. Can I assume that I can extrapolate on the 72ts for 1,000,000 to lesser amounts? Can you supply estimates under the 3 different IRA Methodologies?
I just have one 72T calculator
But i can do single, joint, and uniform
if that's what you mean
So you can't do it for the 3 IRS methodologies?
I can do single life expectancy, joint life expectancy, and uniform lifetime for the life expectancy tables, and
and RMD, fixed amortization, and fixed annuitization for methods
So I would have a choice of one of these to set up for the distribution. I guess I want to maximize the distribution but want to see the 3 choices sactioned by the IRS. Geez, I wish I could speak in person to explain! I'm not a good typist.
I understand. I think the three methods are RMD, fixed amortization, and fixed annuitization
Yes!!! But you can only do one?
NO i can do 3
I didn't see the drop down menu
I thought I only had one of the methods
Great!!! Pls. do Megan! Thanks
Okay hold on a sec
Take your time, It's important as I have a meeting about this tomorrow.
It's $33,784 on RMD
$41,850 on fixed amortization
and 41,542 on fixed annuitization
Great! Megan, are there stipulations for using one method over the other?
Or can you use whichever you want?
You can use the one you prefer
Excellent! Thanks Megan, much appreciated!
Please don't forget to rate as "excellent" so that I may receive credit for assisting you today
Of course! You always get "excellent"
Thanks so much!
Come back and see me again!
I will. You are always fast and professional!
I'm on 14-18 hours a day, so you know where to find me. If I'm not here, I'm sleeping.
WOW! Hope you get some vacation time too! Talk to you soon.