Key retirement milestones
Important
ages to consider
Follow these general age
milestones to stay on track with your retirement planning.
Eligible for
catch-up; additional $6,000 for 401(k) contributions or $1,000 for IRA
Eligible to take
assets from an employer's plan without 10% early withdrawal tax, though regular
income taxes apply
Earliest age to
start taking Social Security (with a reduced payout)
Depending on
date of birth and full retirement age, you might be eligible for full Social
Security benefits as well as Medicare benefits
Latest date to
start receiving Social Security (with the highest payout)
When you start
taking mandatory withdrawals, called required minimum distributions, from an
individual retirement account (IRA) or a 401(k)
Neither Nationwide nor its
representatives give legal or tax advice. Please consult with your attorney or tax
advisor for answers to your specific tax questions.