"The days are long but the years are short" is often said by parents, but it's also a phrase that very much applies to the time between starting your first 'real' job and the day you retire. Life takes over and it's a flurry of activity; marriage, having kids and buying a home are all important milestones for many people. There are also a series of milestone ages on your way to retirement that are important to know about as they open up opportunities to save more, avoid penalties, and qualify for benefits. And two of these milestones require you to either act or be subject to additional taxes and/or penalties.
The SECURE 2.0 Act has significantly changed retirement savings rules in recent years. Those changes include, but are not limited to: a new required minimum distribution (RMD) age and increased catch-up contributions for those aged 60 to 63.
