A Timeline For Retirement When you have concerns about your future, who do you rely upon? In such a fast-paced world, it can be hard to know who you can trust.Optivest Retirement Strategies was founded to be your go-to resource, your steward, and your partner throughout your life journey. Since our inception, we have guided investors of all levels in navigating the complexities of retirement planning. Here, we guide you through a very high-level outline for retirement planning:Age 50: You can begin to make catch-up contributions to your retirement account, which can be good for those individuals who started saving for retirement later in their career.Age 55: If you separate from service with your employer during or after this year, you can receive amounts from that employer's retirement plan without the 10% federal tax penalty.Age 59 ½: You can now start taking withdrawals from your retirement account (with a 10% federal tax penalty)Age 62: You can now begin to receive Social Security benefits. However, waiting longer could result in a larger monthly benefit. We will advise you on what is best in terms of your retirement income strategy.Age 65: You’re eligible for Medicare on the first day of the month of your 65th birthday. Premiums depend on when you enroll and we can answer any questions you have about this benefit.Age 66: If you were born between 1943-1954, you are now eligible for full Social Security benefits.Age 67: If you were born in 1960 or later, you are now eligible for full Social Security benefits.Age 70 ½: You may want to begin taking the required minimum distributions from your requirements or you might incur significant tax penalties.As you can see, even with this high-level view of retirement planning there are many holes. We can help you decide what decisions are best in what stage of your retirement planning and guide you to a strategy that works for you and your family. As your personal advisor, we listen to your concerns, guide you through important life decisions, and develop forward-thinking strategies built with your best interests in mind.