Work with State Farm® to Make the Most of Managing Retirement Funds
Congratulations, you made it! And all the hard work you put into saving for retirement is starting to pay off. Now your challenge is figuring out how to keep it paying off for another two or three decades.
Fortunately, you don't have to figure it all out alone. Your State Farm agent can work directly with you to create a personalized retirement income strategy with our free Retirement Distribution Report. It's just another way to help you take charge of your retirement.
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Plan and Prioritize Your Withdrawals
What are Required Minimum Distributions?
The IRS requires you to start withdrawing at least a minimum amount from your Traditional IRA, SEP IRAs, SIMPLE IRAs, and 401(k)s by April 1 of the year following the year you reach 70 1/2. Be sure to work with your State Farm agent to find ways to simplify the RMD process.
Also, visit "Required Minimum Distributions Calculator"
Understand Your Social Security Options
If you haven't already started receiving payments, waiting until you reach the full Social Security retirement age will allow you to take a higher retirement benefit. Check the Social Security website for more information.
Find out more in "What to Expect from Social Security"
Have 401(k)s? Consider Rolling Them Over
If you've left money behind in various employer-sponsored plans, there are many benefits to rolling them over to Individual Retirement Accounts (IRAs) from State Farm, including easier management, tax-advantaged growth and an expanded investment selection.
Read more in "Why You Should Consider Consolidating Retirement Accounts"
Talk With Your State Farm Agent Today
Get your retirement to a better state with free one-on-one support. This can help you create a retirement income strategy that works for you. Plus, we'll be available for annual check-ups to make sure your plan is still working for you.