Gap in retirement benefit?

Say you are retired or plan to retire at 65. On what income are you suppose to live? IRA Roth and 401K can only be withdraw, without penalty, at 70 1/2 years. It's true SS benefit starts at 62 1/2 but definitely it would not be enough (there's a limit, not sure how much) or it's not there anymore ( I am 27 now). From 65 to 70 1/2 what would people live on ? What most people do? Is there any other investment type?

Thinking about waiting until 70 1/2 to enjoy your retirement ..... that's kinda too late don't you agree? Not to be negative, I don't think most people would have much energy at that age to travel to Europe enjoying nice cappuccino in Rome's Piazza di Spagna or sun bathing in Rio's Copacabana or go to some exotic places in Asia.

You can start taking penalty free withdrawals from your qualified accounts ( IRAs, 401K, Roth IRAs, or other qualified plans) at Age 59.5. There is a basic window. At 59.5 the window opens so you allowed to take withdrawals and at 70.5 you are required to take a minimum withdrawal. If by chance you have so much money and you want to retire early you can use a more advanced technique called 72 T. There are many bells and whistles that go along with that.

Where did you get the 70 1/2 info? Its a minimum of 59 1/2 years old to withdraw from retirement accounts. 70 1/2 is the maximum age at which you must START withdrawing from tax-deferred accounts.

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