T Rowe Price sent it's lateest issue (Sept-2006) this week. One article I found informative listed ages for financial planning milestones. However for my own purposes I found some issues missing.
Entire article
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75 ages article listed:50 (catch up contributions)
55 (can take distributions from employers retirement plan without 10% penalty)
59 1/2 (can take traditional IRA withdraws without 10% penalty)
62 can start taking SS with a 25% reduced payout
65-67 can start taking SS
70 maximum SS benefit
70 1/2 must start taking RMD's from traditional IRAs
What I was looking for and did not see:
What age to consider LTC insurance? Any tax deductions which are correlated to age? Not sure, but thinking it might be worth discussing. Is their a maximum age someone would have $$ in a traditional IRA? meaning RMD's would eventually exhaust account from IRS tables, correct? What age is this? I would assume this would be someone which lived longer than the life expectancy table.