Retirement Withdrawal

Honey got the first withdrawal yesterday.  It's a wild way
to do it, you get a form from them and send it in after
it's filled out and it takes four to six weeks they said.

They took the $10,000.00 out on the sixth, you have no
control of that.  They called her before that and I think
she was unprepared.  They said she had failed to check
the box that she knew there would be taxes on it.  She
told thme yes over the phone so they held out 20% for
taxes so her check was only $8,000.00.  I'll have to
recoup the $2,000 at tax time.

This was from T. Rowe Price so probably much better
than outher plans.

Is that 10k a set amount for a withdrawel? How often does she plan to take out 10k?

I would think 2k for taxes is high as your tax bracket can't be that high. I'm guessing this is where you will make up for it at tax time.

We set it at 10,000 'cause we think she can take that much
out without us having to pay any income taxes.

We will repeat next year, then we have to figure out her
RMD or required minimum distribution. It's figured on the
amount in her retirement accounts at the end of the year
and the percentage required grows each year forever.

We do expect to get the 2,000 back as a tax refund.
20% is supposed to be the standard.