Has anyone out there "retired" at age 59.5 just to get access to your retirement funds?
Why would one access Supplementary (SRA, IRA) at 59.5 unless it is needed to live and the income from work is not sufficient? Letting it ride until 70.5 gives many years of tax-free growth. Even though I had periods with no income, I never touiched these funds. In fact I added to them from short term jobs. We lived on savungs and tightened the belt until reaching 62 when I took Social Security followed by the spouse doing so at 62. We continue to supplement from savings and are planning to nearly exhaust savings when at 70.5 we need to take sheltered retirement funds. This strategy, while not perfect in optimizing SS, appears to promise a good life based on the sheltered return of these funds.
Please explain why one needs to access these funds.
I wasn't sure if you were advocating this. That's why I asked for a reason.
If a higher tax bracket is a concern and one has a period of lower or no income, you should consider converting IRA's to a Roth. This involves taxes,but it could be either at a lower rate or no taxes if one has some standard deduction and/or personal exemptions that have no income to offset.
Retrieving data ...