Originally Posted by
satchip
At what age does one have to start drawing SS, IRA, 401K money? Is that 62 or 65? That will have an effect as the tax rate on your deferred tax plans can make a huge impact on post retirement earnings.
SS: I don't believe you have to draw SS. Early SS (70% of full benefit) can be received to at 62. Full SS for someone that is 60 today is at 66. I am not eligable for full SS until 67.
http://www.socialsecurity.gov/retire2/agereduction.htm
I think IRA's and 401k's are treated the same. You must wait until 59.5 to start drawing it out without penalty. You will be penalized (I believe 50%) if you don't start drawing it 70.5.
http://www.smartmoney.com/retirement...ory=supertable