The Retirement Sweet Spot

There are many decisions that need to made between the ages of 50 and 70 ½.  These are the ages where lifetime events occur.

50 – Eligible for making additional retirement catch up contributions in addition to the maximum contributions.

55 – Penalty free withdrawals from 401k plans as a result of separation of service.

59 ½ – Penalty free withdrawals form tax deferred savings accounts, IRA’s, etc.

62 – First eligibility year for social security retirement benefits at a reduced rate.

65 – Medicare Eligibility.

65 – 67 – Social Security Full Retirement Age.

70 – Age where Social Security Benefits do not increase anymore.

70 ½ – Age where Required Minimum Distributions (MRD’s) begin.