|
|
Article: Financial birthdays to be aware of. (age milestones for Social Security benefits and retirement plan withdrawals)(Brief Article)
- Article from:
- USA TODAY
- Article date:
- December 1, 1997
CopyrightCOPYRIGHT 1997 Society for the Advancement of Education. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
The older that people get, the less they like to think about--let alone celebrate--birthdays. However, there are several important financial birthdays older Americans shouldn't overlook, suggests the Institute of Certified Financial Planners, Denver, Colo.
Age 50. The earliest a spouse can collect a survivor's retirement benefits from Social Security--but only if he or she is disabled.
Age 59 1/2. You can begin making withdrawals from any retirement plan or IRA without the 10% early withdrawal penalty (assessed against any money you pull out and don't roll over into another retirement account or IRA). The withdrawn money faces income taxes.
...