Financial Tip: Substantially equal periodic payments

This is a recurring recording of WBNG's noon newscast.
Published: May. 4, 2022 at 2:05 PM EDT
Email This Link
Share on Pinterest
Share on LinkedIn

(WBNG) -- In this week’s Financial Tip RJ Barber of Vision’s Investment Services discusses substantially equal periodic payments.

“In order to use the substantially equal periodic payments (SEPP) exception, you’ll need to withdraw money from your qualified retirement accounts at least once per year, and must continue the withdrawals for at least five years, or until you reach age 59 1/2, whichever is longer,” Wealth Management Advisor RJ Barber said. “In other words, if you start taking substantially equal periodic payments from your IRA at age 50, you’ll need to continue taking distributions at least once per year until you reach age 59 1/2.”

To contact RJ and his team at Visions Investment Services, visit the website here.