Ages You Should Notice for Retirement Planning (1)
In the United States, more than 10,000 people retire every day. When planning financially for retirement, there are several key ages to remember.
Over 50: If you are over 50 this year and have earned income, you can add $ 6,000 to the money invested in 401K and 403B. The upper limit in 2015 is $ 24,000; if it's an IRA or Roth IRA, you can add $ 1,000, you can put up to $ 6,500. Whether it is to increase future retirement funds or from a provincial tax perspective, make good use of this rule.
If you put in $ 5,500 more in 401,000 years each year, it will be over 80,000 between the ages of 15 and 65. 000 or 100,000 more become your retirement. In addition, if your spouse dies and you are disabled, you can begin claiming the Survivor Disability benefit from the Security Office when the Angel 50 benefit is general at 71.5% of the deceased spouse's full retirement.
55 or over: Resigned after 55 and can receive money from group retirement plans without a 10% fine. These pension plans include the defined benefit plan and Keogh, but not the IRA
59½ years old: This is possibly the most important and popular age set by the IRS. Once you are 59½ years old, you don't have to pay a fine of 10% for withdrawing money from your retirement plan. This 10% penalty exemption applies to any retirement plan, whether it is a qualified retirement plan such as a 401k, IRA, or an unqualified annuity. As long as you reach the magical age of 59 and a half, you can benefit from the 10% exemption f ine policy.
Over 60: Widows can start receiving Social Security survivor benefits at age 60, typically 71.5% of the deceased spouse's total pension benefits.
Over 62: This is the age at which most Americans make their living on Social Security day and night. As long as you are over 62, you can apply for Social Security retirement benefits. , I started receiving at 62 years old, and I can only receive a partial benefit, which is equivalent to 75% of the full benefit. If you don't take your last meal, the general benefit recommendation is to postpone retirement, car every year, see your retirement benefits by about 8%, your retirement benefits will no longer increase at age 70.
Of course, when you start to receive retirement benefits, in addition to financial factors, you must also consider health factors. If you are in poor health or suffer from all kinds of illnesses, you should consider receiving Social Security retirement benefits sooner, for one simple reason: Social Security has no beneficiaries. If you live long and in good health and reach the age of 100, the Social Security benefits you receive can be much higher than the taxes you pay; and if you return home after a few years without a minor child, the social security benefits you pay The security tax belongs to Uncle Sam and is used to distribute benefits to others.
65 or over: You can start Medicare, including various insurance benefits such as seeing a doctor, being hospitalized, and taking medication, but not including the cost of living in a nursing home because you cannot. take care of yourself, or hire someone to take care of it. This cost is generally to be covered by taking out long-term care insurance.
At least 67 years old: People born after 1960 must be at least 67 years old to receive full social security retirement benefits. Starting one year each night, retirement benefits will increase by about 8%. Until age 70, pension benefits will no longer increase automatically and will increase a little per year at most with the rate of inflation.