Important Numbers to Remember
Elga Lejarza aPHR PHR SPHR SHRM-CP SHRM-SCP GPHR
CEO/Owner of HRTrainingClasses.com? & HRDevelop.com
At different stages of our lives, certain numbers take on greater significance, especially when it comes to planning our finances.
These 8 numbers are crucial for anyone to remember:
?? 50
?? 59 ?
?? 62
?? 65
?? 66
?? 67
?? 70
?? 72
?? At 50 years old, you are able to make catch up contributions to your retirement plans with limits for plans that permit it.
?? At 59 1/2 years old, you are able to withdraw from your employer-sponsored retirement plans and IRA without the 10% penalty.
?? At 62 years old, is the earliest you can start receiving Social Security
?? At 65 years old, is time for Medicare (you have a 7 months window to apply, 3 months before you turn 65, the month you turn 65 and 3 months after you turn 65)
?? At 66 years old, is full retirement if you were born from 1943 to 1954
?? At 67 years old, is full retirement if you were born from 1955 to 1960
?? At 70 years old, your social security amount will be higher because you will receive delayed retirement credits for each month you delay filing for benefits.
?? At 72 years old, you need to start withdrawing your Required Minimum Distribution (RMD's) from your retirement account to avoid penalties. (73 if you reach age 72 after December 31st, 2023).
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?? As you can see, From catch-up contributions to retirement plans to Social Security and Medicare eligibility, these numbers can help you understand your options and plan for the future.
?? Remember, age is just a number and doesn't define your potential.
?? With a little knowledge and planning, you can achieve anything at any age!
Elga Lejarza
CEO/Founder
1-800-610-5951
2-Day Workplace Compensation and Benefits Certificate Program: Maintaining the Advantage (Starts 12-7-2023)
Keeping your employee Compensation & Benefit training current has many rewards.? This course will make you and your team more aware of the “Why’s” and “How’s” in creating a staff with more awareness, engagement, & more understanding.? Remember, a well-trained Compensation & Benefits employee is in high demand. Being able to anticipate the major trends in employee benefits and how it can improve your retention rates and time-to-fill rates will immensely help your team.? Learning how to be more current in laws and policies that are forever changing can also assist you and your team be more prosperous and able to complete projects on time.???
Other dates:
February 8, 2024
April 11, 2024
June 10, 2024
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1 年Thank you so much for all the information and knowledge you continually share
Senior Client Services Manager | Customer Service, Logistics, & Employee Training
1 年Thanks for sharing. Miss you Elga!??