9 Key Retirement Deadlines Beginning at Age 50
By Christopher L. Hudson, Financial Advisor, CIMA
- Age 50: Investors are eligible to make “catch-up” contributions to both their 401(k) as well as IRA and Roth IRA accounts.
- Age 55: Many 401(k) plans allow penalty free withdrawals for employees who separate from service at age 55+.
- Age 59 ½: No more 10% early withdrawal penalty.
- Age 62: The earliest age to begin Social Security.
- Age 65: Apply for Medicare.
- Age 66: Full Retirement Age for anyone born between 1943–1954.
- Age 67: Full Retirement Age for anyone born in 1960 or later
- Age 70: If deferred – Social Security Income Benefits no longer grow.
- Age 72: Required Minimum Distributions (RMD’s) must begin.
The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete.
