CAI-NJ August 2021

5) A Part-time job – Once you call it quits from your career, think about a small part-time job to help with your daily spending money. Studies have shown that working past retirement has been linked to better health and longevity. However, do something you like as the days of stressful work should be behind you. 6) Instead of distributing, contribute: As of 2020, there is no longer an age limit in contributing funds to a tradi- tional or Roth IRA. You can begin to take distributions from your retirement account at age 59 1/2 without pen- alty but remember that dollar growth in your retirement accounts depends on the dollar value. Depleting the account value hinders growth value so it’s best to leave it alone for as long as possible. CONT I NU E S ON PAGE 48

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