Key retirement dates and terms.

From the Wall Street Journal’s Market Watch:

RBD: The required beginning date (RBD) is the deadline by which your first required minimum distribution must be withdrawn from your retirement account.

RMD: Your required minimum distribution, or RMD, is the minimum amount that you must withdraw from your retirement account

FRA: Full retirement age is the age at which a person may first become entitled to full or unreduced retirement benefits

Age 59½: the age when you can begin taking distributions from IRAs, 401(k) and 403(b) plans without penalty.

Age 62: The earliest date at which you can start taking Social Security retirement or spousal benefits.

Age 65: The regular Medicare eligibility age.

Age 70½: Age at which you must start taking required minimum distributions.

Getting older is not for the faint of heart or the forgetful.  Need a little help?  Contact us.

 

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