Where are You on the Road to Retirement?Financial Planning Taxes Retirement Planning Social Security
A 30-second read by the Baron Team: There are important questions at certain ages that you should keep in mind on your journey. Your options for Retirement and Financial Planning need to be given very serious thought and examination. You need to identify your goals, explore your options, and test for the unexpected.
Editor's note: The RMD age has been updated to reflect changes from the SECURE Act starting in 2020.
These are important questions to keep in mind on your road to retirement:
Age 50: Can I afford to make catch-up contributions to a 401(k) or IRA?
Age 55: Can I take penalty-free withdrawals from my 401(k)?
Age 59 ½: Should I take Penalty-free 401(k) or IRA withdrawals?
Age 62: When should I file for Social Security benefits?
Age 65: What Medicare Plan should I enroll in?
Age 66-67: Should I file for Social Security at full retirement age?
Age 70: Can I wait until age 70 for maximum Social Security benefit?
Age 72: What is the best strategy for taking my Required Minimum Distributions?
Contact Baron Financial Group for help with financial planning for retirement.
Disclosure: Past performance is no guarantee of future results. Every investment strategy has the potential for profit or loss. This material is not intended to be relied upon as a forecast, research, tax or investment advice. Please consult your tax planning professional for personal tax advice.