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

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. 🎧 

Chapters 📚 

0:00:00 Introduction to Financial Independence and 72(t) Strategy 🌈 

0:01:28 FinTalks Cruise Shenanigans and Bets 🛳️💬 

0:02:56 Drama-Free FinTalks Cruise 🤿 

0:04:45 Ski Trip Injuries and Retirement Decision 🎿⛷️ 

0:06:10 Bougie the Cat 🐱🏡 

0:07:15 Military Recruitment and Son's Future Plans 🪖🌟 

0:09:10 Early Retirement Obstacles and Financial Planning Shift 💼🔄 

0:10:54 Mystery of 72(t) IRS Code and Recent Changes 🕵️‍♂️🔍 

0:14:15 Eric's Financial Snapshot and Approach to 72(t) 💰🤓 

0:16:27 Stephen's Inquiries and Simplifying 72(t) Explanation 🤔🗣️ 

0:19:37 Detailed Discussion on 72(t) Mechanics and Methods 🔧📈 

0:22:33 Choosing the Fixed-Term Annuity 💹 

0:23:11 Resourceful Websites for Financial Planning 🌐📚 

0:24:14 Exploring Different IRA Methodologies 🤖🔬 

0:25:40 Flexibility in Adjusting Withdrawal Methods 🧘‍♂️🔄 

0:26:08 Transitioning from Landlord to Traveler 🏡✈️ 

0:26:58 Embracing the 72(t) for Financial Freedom 🤗💸 

0:29:41 Detailed Itinerary of Travel Adventures 🗺️🌍 

0:32:08 Understanding the Rule of 55 📏👴 

0:34:11 Tips and Cautionary Tales for 72(t) 🚨💡 

0:36:16 Timing Considerations for 72(t) ⏱️🤔 

0:37:36 Reflecting on High School and Sibling Rivalry 🏫👬 

0:40:22 Light-Hearted Banter and Accent Challenges 😂🗣️ 

0:42:38 Hilarious Sign-Offs and Goodbyes 😆👋

Hosted by: David Baughier and Guest Host Stephen Baughier

Social Media: @forgetaboutmoney

YouTube: @forgetaboutmoneypodcast

Website References:

Dare to Drawdown 🚀 

 MyFRS 72(t) Calculator 🧮 

Marks Money Mind - The Fun Bucket 🪣  

IRS - 72(t) Rules 📜 

72(t) vs Rule of 55 📜