Three important birthdays affect your retirement plan:
* At age 50, you can make extra "catch-up"
contributions to your IRA and 401(k) savings. For 2013, these are $1,000 and
$5,500, respectively.
* After age 59½, you're eligible to make penalty-free
withdrawals from your IRAs.
* Beginning no later than the year after you reach age 70½,
you're required to take minimum distributions from your traditional IRAs each
year.
Need more details? Contact our office.
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