Advice and info on individual retirement accounts, IRA and ROTH IRA savings accounts for retirement. Retirement is the point where a person stops employment. Many people choose to retire when they are eligible for pension benefits. Normal retirement age for Social Security, or Old Age Survivors Insurance (OASI), historically has been age 65 to receive unreduced benefits, it is gradually increasing to age 67. Planning for retirement is a serious matter. You have worked hard all your life towards a happy retirement. Retirement plans vary in cost and complexity and you need to make sure that you can retire safely. Do stocks make sense for you? Retiring in a shaky economy can put your retirement in jeopardy. Social Security payouts grow by as much as 8 percent for each year you delay claiming up until age 70. After that, there is no additional incentive to delay collecting your checks. Seniors must take required minimum distributions from retirement accounts each year beginning at age 70 1/2. Those who fail to withdraw the correct amount must pay a stiff 50 percent tax penalty and income tax on the amount that should have been withdrawn.
Info About Retirement Planning and Retirement Calculators
