Midpack
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I was planning on asking the group here to help me build a table of retirement milestones, and then while reading the new Bogleheads Retirement book, there was a basic table on pg 204 (plus my unique adds and updates in red)! But are there any other significant milestones you can add to help me complete the table? If nothing else, I can put the milestones in Outlook (at work) for laughs...
Yr turning Age 50 | Catch-up provisions allow additional funding of IRAs and 401k plans |
Age 55 | May be able to withdraw 401k funds if still with employer until age 55 |
Age 56 | Eligible for 75% of (very small) MegaCorp pension |
Age 59½ | Can withdraw earnings from IRA without penalty |
Age 61 | Eligible for 100% of (very small) MegaCorp pension |
Age 62 | Eligible for early Social Security benefits |
Age 65 | Medicare becomes available |
Age 65 | Able to withdraw from HSA for non-medical purposes without penalty (taxes only) |
Age 66 | Full SS retirement benefits for those born before 1955 |
Age 67 | Full SS benefits for those born in 1960 or later |
Age 70 | Should start taking SS benefits (124-132% of full), as they stop increasing beyond age 70 |
Age 70½ | Required minimum distributions (RMDs) begin for traditional IRA and 401k accounts |
Age 108 | "End of Plan" |
Never | Mandatory distributions from Roth IRA or Roth 401k accounts |