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Um, most people have not vested already. Most people don't have vesting involved in their income at all, at any point in their lives. For people who do have 40
by olliej 4y ago
Um, most people have not vested already. Most people don't have vesting involved in their income at all, at any point in their lives.
For people who do have 401(k)s and similar, the "retirement" age determines when you can start withdrawing from your retirement funds without suffering significant tax penalties.
This is of course assuming you can save enough in your 401(k) (or similar) to retire given the anemic limits on savings that are - as usual for things that benefit tax payers rather than billionaires and corporations - not tied to inflation.
- kevinventullo 4y agoWhat makes you say 401(k) limits are not tied to inflation? They’ve been going up pretty consistently every year since I’ve been paying attention.
- dragonwriter 4y ago> For people who do have 401(k)s and similar, the “retirement” age determines when you can start withdrawing from your retirement funds No, it doesn’t. (I mean, yes, those programs do have an age that does that, but it is not the “retirement age” that is under discussion, which is the Social Security “full retirement age”, which is a separate thing from what you are talking about.)
- idontwantthis 4y ago401k withdrawal begins at 59.5 years old. This is for social security.