Key Retirement Birthdays: Age 70½Congress 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.
Key Retirement Birthdays: Age 65 - Social Security MentalityCurrent thinking has 65 as the normal retirement age and that’s because at one time a worker could collect full Social Security benefits at age 65.
Key Retirement Birthdays: Almost 60Almost 60 is technically 59½, the age you finally can get at those dollars you have been stashing away for years.
Key Retirement Birthdays: Double Digits 55Age 55 seems to be a magical number. It’s the elusive goal for retiring early!
Key Retirement Birthdays: Age 50Many birthdays are key to successful retirement planning, but I thought I'd outline the ones that are key to retirement success.
Over The Hill Gang: Have You Saved Enough For Retirement?If you are a charter member of the Over the Hill Gang, or almost a member, you need to start planning for retirement.
Midyear Tax Planning For Those Retirement PlansMid-year is a good time to take stock of your retirement accounts.
Retirement Myth #5: And They Lived Happily Ever After In RetirementThat's not reality. You need to plan for the soft side of retirement as well as the financial side.
Retirement Myth #4: I Plan To Work ForeverThe reality is that may not be possible for a variety of reasons.
Retirement Myth #3: Social Security Will Be EnoughThe reality is Social Security was designed to replace only about 40% of your current paycheck and less if you are a high wage earner.
Retirement Myth #2: Mom And Dad Are Going To Leave Their Money To MeThe reality is there may not be much money left to inherit.
Retirement Myth #1: I Can Wait Until I’m Earning More To Save For RetirementThe reality is if you start later in your working career you will need to save more money than if you had started younger.