Retirement Milestones-Digital

RETIREMENT PLANNING

PLANNING FOR RETIREMENT

Mark Your Calendar for These Milestones

AGE 50: CHECK ON CATCH-UP CONTRIBUTIONS ■ Catch-up contributions, available to those age 50 and older, are additional contributions above the normal contribution limit to your IRA or employer-sponsored retirement plan.* ■  They are designed to help you decrease any retirement savings shortfall by increasing the amount you’re saving in the years leading up to retirement. ■  Contributions can be made to traditional and Roth IRAs as well as to certain employer- sponsored retirement plans — if you have sufficient earned income. AGE 59 1/2–62: DETERMINE THE BEST TIME TO BEGIN TAKING WITHDRAWALS ■  Regardless of what type of retirement account you have, you can begin taking withdrawals

50

59 1/2 to 60

Wealth | Investments | Planning Commerce Trust Company

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