5 Important Retirement Milestones

As we all know, time seems to fly. Which means retirement, even though it seems far off, will be here before you know it. Be sure to know these important age milestones. Being educated and aware will help you plan for a successful retirement.

1- At age 59 1/2 you can withdraw from your traditional IRA or retirement savings plan account without the 10% early withdrawal penalty and from your Roth IRA without penalties.

2 - Age 62 is the earliest you can start taking Social Security but at a reduced amount.

3 - Age 65-67 is when you are entitled to 100% of your Social Security benefits. The age you are eligible depends on when you were born.

4 - Age 70 is the latest you can delay receiving your Social Security benefits.

5 - At age 73 you must start taking required minimum distributions from your traditional IRA and 401k or 403b plan to avoid hefty penalties.

If you have any questions about these milestones, call us. It's never too early to start planning for retirement. The earlier you start planning, the more prepared you will be.

Retirement Services

- Tax Free Retirement Income

- Pension & Defined Benefits Plan

- Social Security Benefit Options

- Traditional IRA/Roth IRA

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- Annuities 

Life Insurance

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- Index Universal Life

- Term with Conversion

- Long Term Care

- Living Benefits 

Wills and Estate Planning

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- Financial Power of Attorney

- Healthcare Power of Attorney

- Last Will and Testament

- Charitable / Planned Giving