|Age 55||No federal tax penalty on withdrawals from company retirement plans upon separation from service.|
|Age 59 1/2||No federal tax penalty on withdrawals from IRAs and retirement plans/accounts.|
|Age 62||Earliest age that Social Security retirement benefits can be collected for most people. Widows and widowers can receive these benefits as early as age 60.|
|Age 65-67||Full Social Security benefits. The exact age depends on the year in which you were born.|
|Age 70||Earned income no longer reduces Social Security benefits. Otherwise, if you are under the age of full Social Security benefits (see above), $1 is cut from your benefits for every $2 earned above the annual limit. Or, if you are over that age (but under 70), then $1 is cut from every $3 earned above the annual limit.|
|Age 70 1/2||Minimum distributions must be withdrawn from most retirement accounts. However, you may be able to continue making contributions with earned income, tax-deferred, to a Roth IRA.|
To discuss investment planning with a Provident Financial Consultant*, regardless of your age, e-mail or call (650) 508-7222 or (800) 656-4096. Financial Consultants offers a full range of Investment and Retirement Planning services.