Congress and the IRS decided that you cannot leave your pre-tax retirement savings growing forever tax-deferred, so they chose 70½ for you to begin mandatory withdrawals.
Current thinking has 65 as the normal retirement age because at one time a worker could collect full Social Security benefits at age 65. No more.
At 59½ you can finally get at those dollars you have been stashing away for years in your retirement plans without paying a 10% penalty.
Age 55 seems to be a magical number. It’s the elusive goal for retiring early!
Many birthdays are key to successful retirement planning. We’ll spend the week looking at the ones I think are key to your success.
College is expensive. And many wonder if it is worth the cost. I believe it is!
Colleges post the cost of tuition, room and board and the miscellaneous fees but these are not the only expenses you will need to plan for.
I don’t have a definitive answer! But I believe that kids should be responsible for some of the cost of college.
The first step in finding financial aid for college is to get the FAFSA (Free Application for Federal Student Aid) form done.
Next Sunday is Massachusetts College Goal Sunday. This program provides free information and assistance to Massachusetts families applying for financial aid.