With the first group of baby boomers hitting the age 59-1/2 threshold for eligible withdrawals from retirement accounts this year, we thought it would be interesting to poll our readers about when their own clients are typically starting to withdraw from those accounts. In our IA Poll, we asked: “The first group of baby boomers became eligible to withdraw from retirement accounts this year. At what age are most clients starting to withdraw regularly from retirement accounts?”
The poll’s results showed that between 65- to 70-years old is the most popular time frame in which to start using those retirement funds, with a hefty 38% of readers saying their clients start withdrawing regularly in that age group. Readers said that boomers who had just become eligible to withdraw funds at age 59-1/2 were doing so at a high rate as well, with 28% of the vote. Clients in the 60- to 64-years old category were next, with 21% of clients beginning to take out their funds. Finally, the bracket for those aged 71- to 79-years old was last, with 13% of clients waiting until then to start regular withdrawals of their retirement funds.
The new IA Poll located on the home page of the IA Web site, www.investmentadvisor.com, is up today and asks readers, “Which economic issue is most important to you, your practice, and your clients?” We welcome and encourage your participation.