Discover the tips and strategies that will help you achieve your retirement goals.

I'm your host, James Canole, and this is the podcast dedicated to helping you retire well.

It all starts right here on Ready for Retirement. for retirement.

Hi, everyone, and welcome back to another episode of Ready for Retirement.

I'm your host, James Knoll.

On today's episode, we're going to be talking about Rule 72T distributions.

And a Rule 72T distribution, for those of you don't know, is just a way that you can take money out of qualified retirement plans before the age of 59 and a half without paying the 10% early withdrawal penalty. Also, quick side note, you may have heard it by now, but pretty nasally and congested right now. My family and I, we all came down with COVID a few days ago. Feeling much better, but still sounding a little different.

So sorry for the change in sound today, but the show will go on.

And we will get through this episode and learn all about Rule 72T distributions.

And when they may be appropriate and the planning points that you may need to consider.

So this episode is prompted by a listener question, and this question comes from Mike.

Mike says this.

First of all, I really love your podcast.

I really appreciate your time and efforts putting it all together.

I'm retiring at age 55.

Currently, we're a married couple, age 48 and 49.

I'm entitled to a pension and rental income that would

bring in a total of $36,000 per year. Our current annual spending is $82,000 per year. We're planning

to use our 401k to supplement the difference. We have cash available as well at $100,000.

We understand that we have to leave our employment on or after we turn 55 years old.

My 401k currently consists of traditional 401k with 550,000, and Roth 401k with 250,000.

The question is, can I direct transfer or rollover just the Roth 401k to my Roth brokerage account and leave the

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