Are You A Senior Citizen Yet?

Are You A Senior Citizen Yet?

Stepping Stones to Senior Citizenship

  • You become eligible for Social Security.
  • Hit 59 1/2 and can start withdrawing from 401k or IRA without penalty.
  • Need knee replacement or dentures.
  • Spouse passes away or divorce.
  • You become a grandparent.
  • Retire from your job or career.
  • Senior discounts start at some retailers at age 55 or join AARP at age 50.

When can you get your first social security check?

  • You can get social security if you become disabled at any age and are unable to work any more.
  • Turn 62 and qualify for social security at a reduced payout. There is a penalty if you work before full retirement age.
  • Turn 65 at full retirement age and qualify for Medicare.
  • If you take Full Age social security you can still work and not lose any of your social security benefits.
  • Retirement Payouts
  • You can start withdrawing from
  • IRA and 401K at age 59 1/2 with no penalties.
  • 10% penalties of withdrawal before 59 1/2.
  • After the age of 72 you must take a “required minimum distribution” from your retirement accounts.

Medical Conditions

  • Hypertension (high blood pressure)
  • Arthritis and hearing loss.
  • Teeth lost and dentures
  • Knee or Hip replacement
  • Cataract surgery
  • Needing a walker
  • All make you feel older

  • Prepare For Retirement: Don’t let it catch you by surprise
  • You must prepare for when you no longer have your social network of co-workers.
  • You must work on growing your social circles outside of work well before you lose work life. 
  • Join groups that interest you. Learn to dance, be it Swing, Salsa, Square Dancing or type of dance you always wanted to learn. 
  • Share your ideas with you life partner of what you want your future life to be. 
  • Volunteering at a hospital or charity, joining online groups or join a biking or walking group. Don’t be afraid of senior citizen centers you may meet some interesting people. 

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