On this episode of #AOPI – Join Mark and Scott as they welcome entrepreneur, podcaster, best-selling author, and speaker, Daniel Blue to the show.

Listen in as they discuss:
– Daniel’s story and his journey to where he is now
– The benefits of 401k and IRA in real estate
– Does Quest Education provide individuals with the freedom to manage their accounts?
– How much money can be placed in a 401K or IRA account annually?
– What is a solo 401k and its benefits?

Daniel also shares with us the pros and cons of a solo 401k plan and if a person who already has a qualified retirement plan can also set up a solo 401k plan.

Learn why raw land is the best real estate passive income option at

Download your FREE blueprint for turning raw land into passive income here:

SUBSCRIBE to the free podcast here–

Invest in wholesale land at …(read more)

LEARN MORE ABOUT: IRA Accounts

TRANSFER IRA TO GOLD: Gold IRA Account

TRANSFER IRA TO SILVER: Silver IRA Account

REVEALED: Best Gold Backed IRA

Individual Retirement Accounts (IRA) and 401k plans are some of the best and most popular ways to save for retirement. They are tax-advantaged meaning they offer various tax incentives.

However, it’s also true that withdrawing money from an IRA or 401k before it matures leads to penalties and taxes. However, there are instances where you can access your retirement savings before the age of 59.5 years without any penalties or taxes.

Here are some ways you can access money inside your IRA or 401k Penalty and Tax-Free.

1. Roth Conversion Ladder

If you have a traditional IRA, you could open a Roth IRA, transfer money from the former to the latter and pay taxes when you do it. After five years have passed or you have reached the age of 59.5 years, you could withdraw your contributions and earnings without any penalties or taxes.

This strategy is tax-free because Roth IRA withdrawals are tax-free. You only need to have a plan that can support your living expenses over the course of five years.

Note that this strategy will not work if you have a 401k plan. However, most 401k plans will allow you to roll over your account into a traditional IRA, which will make it easier to implement the strategy.

2. 72(t) Distribution

The IRS offers a program known as 72(t) that allows retirement account owners to take distributions from their accounts before turning 59.5 years old. This strategy is also known as a Substantially Equal Periodic Payment (SEPP) plan.

The 72(t) distribution program provides a standard calculation for determining how much you can withdraw without penalty. You will need to take this amount every year for five years or up to the age of 59.5 years.

The program utilizes three calculation methods to come up with a specific distribution amount for each account owner. Once you have opted for any of these methods, you will have to maintain the plan for five years, or else you will be liable for penalties and back taxes on the entire amount.

3. IRA and 401k Loans

You can borrow against your 401k account as long as you repay it back within five years. Note that this strategy will not work with IRA accounts.

However, the downside of an IRA and 401k loan is that if you default, it will be considered a withdrawal, and you will have to pay taxes and penalties on the amount.

Always read the terms and conditions of your employer’s 401k plan and retirement account provider to understand the borrowing options available.

In conclusion, accessing your retirement savings before you hit the age of 59.5 years can be a bit challenging, but it’s possible with proper planning. The above strategies can help you avoid penalties and taxes while accessing your retirement savings. Always consult with a financial advisor or tax professional before implementing any of these strategies to ensure they align with your overall financial goals.