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Retirement Discussions / Jimmy Buffett-Style Retirement
|Subject: Re: Paying my Dues||Date: 2/17/2001 3:19 AM|
|Author: luckyengr||Number: 218 of 380|
"Step eight -- When I could take early retirement I did. (Take the money and run). I took a lump sum settelemt and rolled it
over into investments. The up side is that between the 401k and the lump sum, my basic needs for retirement are covered. The
down side is I can't touch any of it (well almost) until 59 1/2 without giving up an extra 10% to Uncle Sam. I tried the road
worriar thing for a while, it pays well but gets old very fast. I started with a new company and will be fully vested in their
retirement plan just as I reach 59 1/2. What the heck, it keeps me in the south, and a little extra income in retirement is never a
Actually, there are several ways to access your IRA before 59 1/2 WITHOUT paying the 10% penalty.
Have you visited www.retireearlyhomepage.com? The creator of that website, John Greaney, retired six years ago at age 38 and is accessing his IRA's without penalty.
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