How to access your 401(k) or IRA before age 59½ without the 10% early withdrawal penalty. CPA Rob Townend explains 72(t) SEPP plans, the Rule of 55, and the mistakes that trigger IRS penalties.

What happens when you finally have the money to walk away, and the tax code tells you that you are too young to touch it?

Daniel speaks with Rob Townend who spent 25 years as a CPA before deciding in his early 50s that he was done with corporate life. He found nearly everything he had saved locked inside old 401(k)s and IRAs, and no one willing to help him reach it for a flat fee. So he read the code himself. Today he is the founder of Early Retirement Access. In this episode, Rob walks through the 21 exceptions buried in Section 72(t), why he tells most callers to try the Rule of 55 first, how a substantially equal periodic payment plan actually gets calculated, and what it costs when someone breaks one by accident.

CHAPTERS:

00:00:00 — Why 59½ locks up your savings

00:04:51 — Twenty-five years as a CPA

00:08:22 — Where Section 72(t) came from

00:11:56 — The Rule of 55 and its two hoops

00:15:48 — A tax strategy, not just income

00:18:34 — How the payment gets calculated

00:21:49 — What breaking a SEPP costs you

00:24:58 — When paying the 10% is smarter

00:27:25 — The expense ratio gotcha

00:30:41 — Where to find Rob Townend

00:32:04 — Daniel's takeaways

EPISODE REFERENCES:

ℹ️ 12% of workers plan to retire before 60, while 13% of retirees left before 55 and 17% between 55 and 59 — EBRI/Greenwald Research, 2026 Retirement Confidence Survey 2026 https://www.ebri.org/docs/default-source/rcs/2026-rcs/rcs_26-fs-2.pdf

ℹ️ Americans held $18.2 trillion in IRAs and $13.8 trillion in workplace plans, 34% of all household financial assets — Investment Company Institute, Quarterly Retirement Market Data Q1 2026 https://www.ici.org/statistical-report/ret_26_q1

ℹ️ About 59% of U.S. adults have money invested in a retirement savings plan — Gallup 2026 https://news.gallup.com/poll/691202/percentage-americans-retirement-savings-account.aspx

ℹ️ Median retirement account balance among families who have one is $86,900 — Federal Reserve Board, Survey of Consumer Finances 2023 https://www.federalreserve.gov/publications/october-2023-changes-in-us-family-finances-from-2019-to-2022.htm

CONNECT WITH ROB:

🌐 Website — https://www.earlyretirementaccess.com

💼 LinkedIn — https://www.linkedin.com/in/robert-townend-817a2a37

📘 Learn About 72(t) SEPPs — https://www.earlyretirementaccess.com/learn-more

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This information is for educational purposes only and not financial advice. Consult a qualified professional for personalized guidance.

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