Important Age Milestones in Retirement
In this Episode of the Secure Your Retirement Podcast, Radon and Murs discuss the important financial planning milestones that happen at different ages. These are things you should be thinking about and preparing for before getting to retirement.
Listen in to learn about the different financial milestones that happen in the life of a child from birth all the way to retirement. You will also learn when to work on your catch up contributions, the social security eligibility age, when to withdraw all your retirement assets and much more.
In this episode, find out:
\u25cf The future-based savings accounts you can set up for a child from birth.
\u25cf The key ages where different financial milestones happen all the way to age twenty-six.
\u25cf Age fifty milestone \u2013 the catchup contributions you can add after age fifty in 2023.
\u25cf Age fifty-nine and a half milestone \u2013 the age where you can withdraw all your retirement assets without a penalty.
\u25cf Things that happen at age sixty-two where you\u2019re eligible for social security at a reduced rate.
\u25cf The different things that happen at age sixty-five including eligibility for Medicare.
\u25cf Understanding why the full retirement age is key for social security benefits.
\u25cf Why there\u2019s no reason not to turn on social security after the age of seventy.
\u25cf Age seventy and a half \u2013 when you get full deductibility on your QCDs.
Tweetable Quotes:
\u25cf \u201cWhen you\u2019re at age fifty-nine and a half or above, just know that some options when it comes to investing and retirement planning become available to you.\u201d- Murs Tariq
\u25cf \u201cAge seventy and a half is key because that\u2019s when you can start taking contributions in your IRA and giving them to a charity.\u201d- Radon Stancil
Resources:
If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!
To access the course, simply visit POMWealth.net/podcast.