Here is a list of seven significant ages before or during retirement and the actions you can or must take, according to Kiplinger. For more information, please see the article: The Seven Key Milestone Ages in Retirement | Kiplinger.
1. Age 50
You are eligible to make catch-up contributions to your retirement accounts. There is a higher limit on what you can contribute to your accounts, and this could lower your taxable income.
Beginning 01/01/2025, there are even higher contribution catch-up limits if you are age 60-63.
2. Age 59 1/2
You can take a withdrawal from your account without a 10% IRS penalty, whether you have left employment with a UU employer or are employed/in-service.
3. Age 62
You become eligible to collect Social Security, at a reduced amount.
4. Age 65
You become eligible for Medicare and should apply within three months of your 65th birthday.
5. Age 66-67
You reach the full retirement age (FRA) for Social Security, are eligible for full, not reduced benefits. This age is 66-67, depending on when you were born.
6. Age 70
You are eligible to collect the maximum Social Security benefit possible for you.
7. Age 73
You must begin taking required minimum distributions (RMDs), and there is an IRS penalty for not doing so.
From https://www.kiplinger.com/retirement/key-milestone-ages-in-retirement, accessed 01/14/2025.