Catching Up to FI

A 72(t) plan is little-known IRS provision which gives you a perfectly legal way to access your retirement money before 59½ without the 10% penalty. In this second half of the 2-part episode, Jackie brings back Mr. 72t, William (Bill) Stecker, CPA and founder of 72tcalc.com. This episode takes on the practical half of their deep dive into 72(t) plans as they move from theory to execution. Jackie puts her own plan on screen to let Bill do what he does best... audit it! He scrutinizes her $240k starting balance, $15k annual withdrawals, plan timeline, and the surprising fact that her account has actually grown even though she's been taking money out. 
This episode covers
Why Bill strongly favors the amortization method for most practical 72(t) plans
How the 5% interest-rate floor changed SEPP planning
The three basic inputs needed to calculate a 72(t)
How to document the correct starting IRA balance
What records to keep in case the IRS ever asks questions
Why annual withdrawals may reduce opportunities for mistakes
How to handle a 1099-R that says "early distribution, no known exception"
Jackie's real-life 72(t) setup, asset allocation, and withdrawal schedule
How 72(t)s can work alongside Roth conversions and other income strategies
Why some people may qualify for better early-withdrawal exceptions and not need a SEPP at all
This is the second part of a 2-part episode. Be sure to subscribe the show and catch part 1 (episode 234) from 8/30/26.
 
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===DEALS & DISCOUNTS FROM OUR TRUSTED PARTNERS===
F.I.R.E. For Dummies
Did you know that co-host Jackie Cummings Koski, CFP®, AFC® is also author of "F.I.R.E. For Dummies"? This is the perfect guide for anyone looking to move from the basics of their finances to reaching F.I.R.E. (Financial Independence, Retire Early) and enjoying the time freedom it creates. Even if you feel behind on your finances, the steps in this book will help you catch up sooner than you ever imagined. 
Learn from someone who actually achieved F.I.R.E. in her 40s even after getting a late start 
Covers everything from basics to advanced strategies in one guide 
Practical solutions for early retirement obstacles like health insurance and early withdrawal penalties 
📕 Get Your Copy  (currently 40% off on Amazon)
For a full list of current deals and discounts from our partners, sponsors and affiliates, click here: catchinguptofi.com/our-partners
 
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RESOURCES MENTIONED ON THE SHOW
🌐72tcalc.com Website 
Free consultation with Bill Stecker's Firm (The Marble Group)
email: themarblegroup@wispertel.net
Phone: (312) 361-0221 
 
Official IRS Tax Code 72(t) 
IRS Notice 2022-6 (sets a new floor interest rate of 5% for calculating 72(t) distributions)


72(t) Calculators 
72tCalc  
FI Tax Guy 72(t) using Google Sheet
Dinkytown 
CalcXML
UngrindFi  
 
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⏰ Related Episodes 
Retiring Early? CPA Explains How To Use A 72(t) to Escape The 10% Penalty | Bill Stecker (Part1) | 234
72(t) Expert Tells All: No More Secrets About Early Withdrawals (Part 1) | Bill Stecker | 131
Cashing in on 72(t): The Goldmine of Early Retirement Rules (Part2) | Bill Stecker | 133 
 
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📌Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.

You won't find a more comprehensive resource on the topic of 72(t) plans and substantially equal periodic payments (SEPP). This little-known IRS provision gives you a perfectly legal way to access your retirement money before 59½ without the 10% penalty… and almost nobody in finance wants to touch it! So, Jackie brings back the one expert that lives and breathes 72(t)s, William (Bill) Stecker, CPA and founder of 72tcalc.com. Bill picks up where he left off when he last appeared on the show in 2025. He further explains the nuances of 72(t) plans and how to avoid common mistakes. Hear how 72(t)s can be incredibly powerful tools for early retirees, laid-off workers, and anyone ready to leave the traditional "hours-for-dollars" trade.
This episode covers
What a 72(t) or SEPP plan actually is
Access to retirement accounts before age 59½ without the 10% penalty tax
Why so many financial professionals hesitate to work with 72(t) plans 
The minimum plan period and why modifying a SEPP can become extremely expensive 
How to determine how much early retirement income you actually need
The differences between the Rule of 55 and a 72(t) strategy 
Why Bill usually prefers moving money from employer "plan land" into "IRA land" 
How brokerage accounts, Roth contributions, part-time work, and SEPPs can work together 
Why inflation and unexpected expenses need to be built into an early-retirement income plan 
How splitting an IRA into separate accounts can create flexibility and isolate potential mistakes


This is the first part of a 2-part episode. Be sure to follow the show and catch part 2 next week (9/6/26).
.
=== SUPPORT  THE  SHOW ===
📩 Sign up for our newsletter
🌐 Visit Catching Up to FI website 
🔗Connect with us
☕ Like what you hear on Catching Up to FI? Support the show at "Buy Me a Coffee" 
🎙️We love hearing from you! Record a Voice Message with your feedback or question Record a Voice Message with your feedback or question

 
.
===DEALS & DISCOUNTS FROM OUR TRUSTED PARTNERS===
F.I.R.E. For Dummies
Did you know that co-host Jackie Cummings Koski, CFP®, AFC® is also author of "F.I.R.E. For Dummies"? This is the perfect guide for anyone looking to move from the basics of their finances to reaching F.I.R.E. (Financial Independence, Retire Early) and enjoying the time freedom it creates. Even if you feel behind on your finances, the steps in this book will help you catch up sooner than you ever imagined. 
Learn from someone who actually achieved F.I.R.E. in her 40s even after getting a late start 
Covers everything from basics to advanced strategies in one guide 
Practical solutions for early retirement obstacles like health insurance and early withdrawal penalties 
📕 Get Your Copy  (currently 40% off on Amazon)
For a full list of current deals and discounts from our partners, sponsors and affiliates, click here: catchinguptofi.com/our-partners
 
.
RESOURCES MENTIONED ON THE SHOW
🌐72tcalc.com Website 
Free consultation with Bill Stecker's Firm (The Marble Group)
email: themarblegroup@wispertel.net
Phone: (312) 361-0221 
72(t) Calculators 
72tCalc  
FI Tax Guy 72(t) using Google Sheet
Dinkytown 
CalcXML
UngrindFi  
Official IRS Tax Code 72(t) 
 
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⏰ Related Episodes 
72(t) Expert Tells All: No More Secrets About Early Withdrawals (Part 1) | Bill Stecker | 131
Cashing in on 72(t): The Goldmine of Early Retirement Rules (Part2) | Bill Stecker | 133 
 
.
📌Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.

What happens when one of investing's original disruptors buys one of the industry's newest disruptors? Barry Ritholtz thinks investors may be the biggest winners and Bill and Jackie dig into why. This special breaking-news is an excerpt from an upcoming Catching Up to FI episode, recorded on 8/26/26. Barry reacts to Vanguard's newly announced agreement to acquire Altruist, the fast-growing technology and custody platform built for independent financial advisors. Barry also gives an important disclosure: he's an Altruist investor, so yes, he has a dog in this fight. From there, he explains why combining Vanguard's enormous scale with Altruist's technology could quickly reshape the custody business, put fresh pressure on Fidelity and Schwab, and potentially extend the famous "Vanguard Effect" into another corner of financial services. Bill calls it "disruptor squared." Barry sees an industry that never stands still. And if competition drives prices lower again, investors may ultimately be the ones cashing the biggest check.
This episode covers
Barry's immediate reaction to Vanguard's agreement to acquire Altruist

His disclosure that he is an Altruist investor and financially benefits from the deal

Why Altruist's clean-sheet technology made it an attractive challenger to legacy custodians

How Vanguard's scale could immediately change Altruist's competitive position

Why Fidelity and Schwab may suddenly have a much larger third competitor

The "Vanguard Effect" and how competition can push fees lower across an industry

Why Barry believes investors could be the biggest winners from the acquisition

How Schwab and Robinhood previously disrupted investing through lower-cost and free trading

Why Vanguard was a logical potential acquirer given its earlier relationship with Altruist

Barry's larger lesson that financial technology never stands still

 
 The Full Episode with Barry Ritholtz will be coming out soon! Be sure to follow the show or subscribe to the channel on YouTube, so you don't miss it!"
 
=== SUPPORT  THE  SHOW ===
📩 Sign up for our newsletter
🌐 Visit Catching Up to FI website 
🔗Connect with us
☕ Like what you hear on Catching Up to FI? Support the show at "Buy Me a Coffee" 
🎙️We love hearing from you! Record a Voice Message with your feedback or question Record a Voice Message with your feedback or question

 
.
===DEALS & DISCOUNTS FROM OUR TRUSTED PARTNERS===
F.I.R.E. For Dummies
Did you know that co-host Jackie Cummings Koski, CFP®, AFC® is also author of "F.I.R.E. For Dummies"? This is the perfect guide for anyone looking to move from the basics of their finances to reaching F.I.R.E. (Financial Independence, Retire Early) and enjoying the time freedom it creates. Even if you feel behind on your finances, the steps in this book will help you catch up sooner than you ever imagined. 
Learn from someone who actually achieved F.I.R.E. in her 40s even after getting a late start 
Covers everything from basics to advanced strategies in one guide 
Practical solutions for early retirement obstacles like health insurance and early withdrawal penalties 
📕 Get Your Copy  (currently 40% off on Amazon)
For a full list of current deals and discounts from our partners, sponsors and affiliates, click here: catchinguptofi.com/our-partners
 
.
RESOURCES MENTIONED ON THE SHOW
Official Vanguard announcement – Vanguard to Acquire Altruist, Expanding the Reach and Impact of Financial Advice
View the August 26, 2026 Vanguard announcement
Vanguard FAQ – Vanguard to Acquire Altruist
Read Vanguard's acquisition FAQ
Altruist's official acquisition announcement
Read the Altruist announcement
Ritholtz Wealth
https://ritholtzwealth.com/
How Not to Invest
https://a.co/d/07ZHXM8h 
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📌Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.

What if that old pension you barely think about is secretly one of the most valuable assets in your retirement plan? Bill and Jackie welcome back financial planner and educator, Andy Panko for a deep dive into the increasingly rare (but far from extinct) world of pensions. They explore plans from private and government employers and why a seemingly small monthly check can dramatically change the work the rest of your portfolio has to do.
This episode covers
Why pensions are less common but still relevant to millions of workers
What it actually means when an employer "freezes" a pension
How to think about a pension as part of your overall retirement portfolio
The risks behind private, federal, state, and municipal pension promises
Lump sum versus lifetime monthly payments and the trade-offs of each
Single-life, joint-and-survivor, period-certain, and inflation-adjusted pension options
Why guaranteed income can give retirees psychological permission to spend
When comparing an employer pension with a commercial income annuity may make sense 
Andy's four-question framework for deciding whether lifetime payments fit your plan
Jackie's pension options and her final decision to turn on lifetime monthly payments
Where to find old or forgotten pensions from previous employers
.
=== SUPPORT  THE  SHOW ===
📩 Sign up for our newsletter
🌐 Visit Catching Up to FI website 
🔗Connect with us
☕ Like what you hear on Catching Up to FI? Support the show at "Buy Me a Coffee" 
🎙️We love hearing from you! Record a Voice Message with your feedback or question Record a Voice Message with your feedback or question

 
.
===DEALS & DISCOUNTS FROM OUR TRUSTED PARTNERS===
F.I.R.E. For Dummies
Did you know that co-host Jackie Cummings Koski, CFP®, AFC® is also author of "F.I.R.E. For Dummies"? This is the perfect guide for anyone looking to move from the basics of their finances to reaching F.I.R.E. (Financial Independence, Retire Early) and enjoying the time freedom it creates. Even if you feel behind on your finances, the steps in this book will help you catch up sooner than you ever imagined. 
Learn from someone who actually achieved F.I.R.E. in her 40s even after getting a late start 
Covers everything from basics to advanced strategies in one guide 
Practical solutions for early retirement obstacles like health insurance and early withdrawal penalties 
📕 Get Your Copy  (currently 40% off on Amazon)
For a full list of current deals and discounts from our partners, sponsors and affiliates, click here: catchinguptofi.com/our-partners
 
.
RESOURCES MENTIONED ON THE SHOW
Tenon Financial website
Retirement Planning Education website
Andy's podcast 
Andy's Youtube 
Andy's LinkedIn
Retirement Savings Lost and Found Database
Pension Benefit Guaranty Corporation (PBGC)
Dinkytown.net- Pension vs. Lump Sum Payout Calculator
Estimate Immediate Annuities 
 
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⏰ Related Episodes
How K-12 Teachers Can Beat the Broken 403(b) System | Dan Otter & Scott Dauenhauer | 226
Retired Before 50: A Look at Her Real Finances, Numbers & Strategy | Andy Panko Crossover | 186 
Retirement Planning Tips | Andy Panko | 063
 
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📌Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.

After Rishi Vamdatt's conversation with Bill and Jackie, his parents Renu and Raag step out from behind the scenes to share how their son became the 16-year-old financial educator behind Easy Peasy Finance. They believe raising a financially savvy kid has less to do with giving money lectures and more to do with letting them swipe the credit card at the grocery store and ask "what happens next"? Their approach was surprisingly simple: money was never taboo, questions were always welcome, and Rishi was allowed to follow his curiosity rather than being scheduled into oblivion. For late-starting parents, the reassuring message here is that you don't need to raise another Rishi. Just talk openly, model your values, and follow the child.
This episode covers
How Renu and Raag recognized Rishi's unusual interest in money from a very young age

Why money, income, mortgages, and family finances were never treated as taboo

How everyday activities like grocery shopping became natural financial lessons

The family effort behind the early years of Easy Peasy Finance

Why Rishi has turned down sponsorships, including significant offers, to protect audience trust

How Rishi's parents balance his mathematical approach with the emotional side of money

Why letting children lead their interests can be more powerful than filling every hour with activities

How Rishi balanced finance with theater, travel, fishing, scuba diving, video games, and being a regular kid

What parents can do differently to build financial fluency in the next generation

How financial values and openness traveled from grandparents to parents to Rishi

 
.
=== SUPPORT  THE  SHOW ===
📩 Sign up for our newsletter
🌐 Visit Catching Up to FI website 
🔗Connect with us
☕ Like what you hear on Catching Up to FI? Support the show at "Buy Me a Coffee" 
🎙️We love hearing from you! Record a Voice Message with your feedback or question Record a Voice Message with your feedback or question

 
.
===DEALS & DISCOUNTS FROM OUR TRUSTED PARTNERS===
F.I.R.E. For Dummies
Did you know that co-host Jackie Cummings Koski, CFP®, AFC® is also author of "F.I.R.E. For Dummies"? This is the perfect guide for anyone looking to move from the basics of their finances to reaching F.I.R.E. (Financial Independence, Retire Early) and enjoying the time freedom it creates. Even if you feel behind on your finances, the steps in this book will help you catch up sooner than you ever imagined. 
Learn from someone who actually achieved F.I.R.E. in her 40s even after getting a late start 
Covers everything from basics to advanced strategies in one guide 
Practical solutions for early retirement obstacles like health insurance and early withdrawal penalties 
📕 Get Your Copy  (currently 40% off on Amazon)
For a full list of current deals and discounts from our partners, sponsors and affiliates, click here: catchinguptofi.com/our-partners
 
.
RESOURCES MENTIONED ON THE SHOW
Easy Peasy Finance 
Easy Peasy Finance YouTube
📕Easy Peasy Money 
Coverage on CBS News 
Kiplinger Article 
I Will Teach You To Be Rich (Ramit Sethi)  
 
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⏰ Related Episodes
This 16-Year-Old CFP Exam Passer Is Making Personal Finance "Easy Peasy" | Rishi Vamdatt | 231
Why 90% of Families Lose Their Wealth (and How to Stop the Cycle) | Julia Myers | 209
Is Your 401(k) a Mess? Do This Now (Step-by-Step Guide) | Bill & Jackie | 205
Money Scripts: Don't Get Scrooged! | Brad Klontz | 175
 
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📌Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.