10/13/2026
đź“… Your 50th birthday won't come with a notice that your 401(k) limit just went up by $8,000.
Most of the ages on this card arrive the same way, with no reminder from anyone. Most of them open a door: more room to save, penalty-free withdrawals, a Social Security check you can start.
Two of them work differently, and they're marked in red.
Miss your Medicare window at 65 without qualifying job coverage, and the Part B late penalty gets added to your premium for as long as you have Part B.
Miss a required minimum distribution at 73 or 75, and the amount you should have taken can be hit with a 25% excise tax. Fix it within two years and that drops to 10%.
The Rule of 55 runs the other way. Leave your job in or after the year you turn 55, and that employer's 401(k) can pay you without the 10% early-withdrawal penalty. An IRA would still owe it until 59½, so rolling that 401(k) into an IRA right before an early retirement can give up access you already had.
At 62, Social Security is available, but claiming that early cuts your check by up to 30%, and the cut doesn't go away at full retirement age.
Between 67 and 70, each year you wait adds 8% to your benefit. After 70 the increases stop, so waiting longer earns nothing.
If you're in your 50s, the ages to mark first are 50 and 60. In 2026, the workplace catch-up rises from $8,000 to $11,250 for the years you turn 60, 61, 62, and 63.
P.S. Once a week, I email the best money article I read, with my take on this week's top Facebook posts and what's new on the Ways to Wealth blog. It's free, and you can sign up on the Ways to Wealth home page.
R.J. Weiss, CFP®
The content shared here is for educational and informational purposes only. It is not personalized investment, tax, legal, or financial advice. Consult a licensed professional before making decisions based on your specific situation.
