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Financial Planning Timeline

The financial planning timeline helps to identify potential strategies to prepare an effective and efficient plan. While individuals and families have unique financial goals and circumstances, these key dates provide a framework to help make better informed financial planning decisions.

Age 50

  • Annual catch-up contributions

Age 59 1/2

  • Gain Tax Control
  • No 10% Penalty
  • Possible In-Service Rollover
  • Ordinary Income Tax

Age 62

  • Early Social Security Eligibility
  • Reduced Benefit

Age 65

  • Medicare Eligible

Age 66-67

  • Full Retirement Age

- Social Security Strategies

  • Spousal Benefits
  • Restricted Application
  • File and Suspend

Age 70

  • Delayed Social Security
  • Benefit Credits

Age 70 1/2

  • Lose Tax Control
  • Required Minimum Distibutions (RMD)
  • Ordinary Income Tax

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