Description

There are a handful of important age milestones that you should be aware of in the retirement planning process. While some of them are more well-known, others can easily fly under the radar.  Stay tuned as we cover the important birthdays you need to pay attention to from catch-up contributions at age 50 to taking RMDs at age 73.

Here are the milestones we discuss in this episode:

• Age 50: Catch-up contributions for IRAs and employer-sponsored accounts
• Age 55: Rule of 55 for penalty-free 401(k) withdrawals after leaving an employer
• Age 59.5: Elimination of early withdrawal penalties for qualified accounts + approaching Social Security age
• Age 62: Earliest eligibility for Social Security benefits
• Age 65: Eligibility for Medicare coverage
• Age 67: Full retirement age + baseline income expectations
• Age 70: Potential for increased Social Security benefits
• Age 73: Begin taking RMDs 

WAYS TO CONNECT:

Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg

Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team.

If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.