Retirement planning is about making a series of important choices that unfold over time. From Social Security to Medicare to estate planning, each age brings new opportunities to shape your future.
The timeline below can help you anticipate what is ahead, so you will know how our team can help you prepare. Together, we can help you make decisions with confidence and clarity.
Age 58
It is time to start deeply exploring your retirement vision. As you do so, review your life insurance policies and consider applying for long-term care insurance while premiums are still affordable.
Age 59 ½
You can start taking penalty-free withdrawals from IRAs and 401( k) s. We will help you decide how these withdrawals can work most effectively with your long-term wealth plan and tax strategy.
Age 60
As you enter a new decade of life, revisit your estate plan and check on your will, powers of attorney, and beneficiary designations.
Age 62
Age 63
Age 65
Workers and their spouses can begin claiming Social Security benefits, but only for a permanent reduction in your monthly benefit.
The income that is reported on your tax return is used to determine your Medicare Part B and D premiums. We will help you consider Health Savings Account planning and tax-efficient withdrawal strategies to manage your income level.
You become eligible for Medicare. We will review your coverage options and help finalize your long-term care strategy.
Age 67 If you were born in 1960 or later, you can begin receiving your Social Security benefits in full.
Age 70
Delay credits stop accruing to workers’ Social Security benefits. If you have waited, now is the time to claim.
Age 70 ½ You can use a Qualified Charitable Distribution to make tax-free gifts directly to charities from an IRA.
Age 73
Required Minimum Distributions begin for those born between 1951 and 1959. We will help ensure your withdrawal strategy aligns with your tax plan and retirement goals.
Age 75 Required Minimum Distributions begin for those born in 1960 or later.
Age 77 & Above
Charitably inclined people do most of their giving at this age. Our team will help you consider all of your options to drive your dollars further.
If this timeline feels intimidating, do not worry – you are not alone. Our team’ s mission is to walk you through your retirement roadmap every step of the way.