If you’re under 59½ and need steady income from your IRA, a 72(t) SEPP lets you avoid the 10% early-withdrawal penalty. The key is setting payments to match your income needs while keeping as much flexibility in the rest of your portfolio as possible.

Benefits: allows penalty-free access to retirement funds before age 59½, avoids the need to take loans, can serve as useful bridge income during career transitions or early retirement, and helps you preserve non-retirement assets for other uses.