Name: Retirement benchmark ages (Financial Safari)
Uploaded: 2021-06-15T15:51:19-0400
Duration: 181784
Description: In retirement, timing is everything. Start planning too late or missing key benchmarks can have costly consequences.

A local school bus was involved in a crash on Webb Mill Road in Johnston County on Friday afternoon. 

Johnston County school bus involved in crash on Webb Mill Road 

A new study led by a University of Maryland researcher has found that the Atlantic Ocean currents are slowing down.

Melting sea ice slows Atlantic Ocean currents; warmer water stays offshore to raise storm risk for the Carolinas

EARNHARDT-1 Ocean

Triangle residents who are fans of thrills and themed attractions don't have to travel far to experience some of the best.

Guide: Amusement parks within driving distance of Raleigh

New Carowinds rollercoaster nears opening date

In retirement, timing is everything. Start planning too late or missing key benchmarks can have costly consequences. 

when it comes to retirement, timing, is everything starting retirement planning too late or missing. Key benchmarks can really hurt you in the long run, here's a breakdown of the different retirement benchmark ages. Yeah if you are aged 49 under, you can contribute up to $19,500 each year to your 41 K. Account and 6000 to your ira. Or Roth ira. When you turn 50 you can make catch up contributions to your 401 K. Or Ira accounts, you can contribute an extra $6500 to a four oh one K. For a total of $26,000 each year. And your iRA contributions can increase to $7000 a year. At 59.5 years of age. You may begin withdrawing from your IRA without a 10% early withdrawal penalty At 62. You can begin collecting social security payments. However, if you choose to start collecting payments. The maximum possible collection is only $2,265 each month collecting Social Security at this age locks in a lower payment and prevent you from collecting the maximum amount of Social Security holding off for a few more years will let you collect a larger payment each month. At 65. Most of us will be eligible for Medicare. If you have a disability or a special condition, you may be eligible for Medicare at age 62. Congratulations. You just turned 66 for workers born between 1943 and 1954. This is the full retirement age. This means you can claim full benefits and keep working without affecting your social security payments at this age. The maximum possible Social security payment is $3011 before retirement age gradually increases until age 67 for workers born in 1960 or later age 67 is the full retirement age. If you wait to collect social Security at age 70 the maximum possible Social Security benefits grow to $3790. When you turn 72 you must begin taking out required minimum distribution or R. M. D. From your retirement accounts. With the exception of Roth iras the RMD is calculated based on the account balance and the life expectancy of you and your spouse. The penalty for failing to take an RMD is 50% of that RMD. That is a costly mistake. Make sure you're ready at every age. Knowing these key dates could save you a lot of heartache in the future. Meeting with a financial planner can help you prepare for every milestone. Capital Financial has a dedicated team of fiduciary financial planners ready to help you call us or visit our website to set up a no cost, no obligation consultation today. Mm Yeah. Mm.

Retirement benchmark ages (Financial Safari)

Financial Safari: Retirement benchmark ages

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WRAL-TV News Broadcasts: Watch each newscast live or watch the most recent newscast on demand.

WRAL Late News 

Get the latest WRAL WeatherCenter Forecast whenever you need it, including the DUALDoppler5000 and the 7-Day Forecast.

I'm meteorologist, Amy Wilmeth in the WRL severe weather center. The weather pretty quiet today, we have some clouds around. We'll get up to around 90 this afternoon. So it's still hot outside today and then late this evening and especially overnight tonight, rain chances start to go up. We're watching a disturbance over Arkansas back down into Louisiana and Texas that's headed in our direction and it brings some unsettled weather for the upcoming weekend. And as early as tonight, we could start seeing some of those showers. So here's a look at Future cast seven o'clock tonight. I'd expect most of us to stay dry. I wouldn't rule out an isolated Sprinkle or two by 7 a.m. Saturday morning. A couple of hit and miss showers will be possible, but it's not widespread rain. Really hoping things stay dry for a race for the cure. And I know we have a lot of graduations in the morning. So hopefully it stays dry through the morning hours as we get into the afternoon, we'll have some hit and miss hours and some thunderstorms and that will continue into the evening on Saturday as well. Sunday morning at 6 a.m. looks mainly dry, but as we head into lunchtime and into the afternoon and evening hit and miss showers and storms will be possible. Again, look at how much we could get anywhere from around a quarter of an inch to three quarters of an inch. And that takes us through the next seven days. And some of this rain is likely going to linger into early next week, hour by hour, rain chances for tomorrow in the morning, it looks mainly dry. We have better opportunity for some of those scattered showers and storms in the afternoon and evening hours. So just keep the umbrella with you as you're headed out and about Saturday and Sunday as well. A lot of graduation. Saturday morning, we have NC State NC Central Saint Augustine's all have graduations in the morning. It's about a 20% chance for rain. After graduation, there might be some showers. You might have to dodge some of those showers and storms while you're getting your pictures taken on Saturday for those commencement ceremonies. So 90 today, we have race for the Cure Saturday morning hoping it stays dry just a slim chance for in the morning and then scattered storms will be possible. Sunday as well. Monday and Tuesday, it's going to get hot again next week with high temperatures back in the low to mid nineties on Wednesday and Thursday.

WRAL WeatherCenter Forecast

Daytime Pick 3 and Pick 4 drawings are held at 3 p.m. daily. They can be seen as live or on-demand video.

Good afternoon. I'm Grace Holland. Welcome to this afternoon's drawings for Friday. May 3rd 2024. Let's get started with the Carolina pick three. The first pick three number is zero then eight three and your pick three. Fireball is seven. Joining me for this afternoon's drawing is our auditor for mcconnell and Jones L LP. Now let's move to the Carolina pick four. The first pick four number is taking its time. A two followed by five three, four. And your pick for Fireball is three. The North Carolina education lottery has contributed over $10 billion to education. Thank you for your support.

Daytime Pick 3 and Pick 4 Drawing

Charlotte-Mecklenburg Police Department holds a processional and memorial service for fallen officer Joshua Eyer. 

Watch live: Processional and memorial service for fallen officer Joshua Eyer

Emergency responders in Cary a rescue woman trapped on her front porch after the porch collapsed. 

Cary crews rescue woman trapped on front porch

Protesters marched around UNC on Friday morning. Their nearly-two mile loop stopped traffic and interrupted students daily activities.

WITH JEFF. QUITE AN ORDEAL. THERE ARE NO DOUBT GLAD SHE IS OK, DESTINY. PATTERSON LIVE IN CARY, THANK YOU. >> PRO-PALESTINIAN PROTESTERS RETURN TO UNC CAMPUS TODAY TRYING TO GET THEIR MESSAGE HEARD FOR THE UNIVERSITY TO DIVEST FROM ISRAELI COMPANIES, WRAL, SHAUN GALLAGHER HAS BEEN THERE ALL MORNING. AND SEAN, TODAY'S PROTEST PLAYED OUT MUCH DIFFERENTLY THAN WHAT HAPPENED EARLIER THIS WEEK. >> THAT'S RIGHT. RENEE, YOU KNOW, IS A VERY QUIET MORNING USE BARRICADES THAT WERE PUT UP REALLY NOT NECESSARY AS PROTESTERS GATHERED AT A NEARBY PLAZA JUST OFF OF CAMPUS AND WHAT THEY WERE HERE FOR IT WAS LARGELY PEACEFUL. I'LL BE AT A LOUD PROTEST ALL THE WAY THROUGH THE CAMPUS. NOW. IT WAS AN EARLY MORNING THE GROUP ARRIVED HERE JUST AFTER 08:00AM AND HAD SOME SPEECH IS ABOUT THE CONCERNS THEY HAVE ABOUT THE PALESTINIAN PEOPLE IN THE ISSUES WITH THE UNC ENDOWMENT INVESTING IN COMPANIES WITH ISRAELI CONNECTIONS. BUT THEN THE GROUP SET OFF ON FOOT AROUND THE CAMPUS OF NEARLY 2 MILE LOOP, STOPPING TRAFFIC AND PEACEFULLY INTERRUPTING STUDENTS DAILY ACTIVITIES. IT IS A CONTRADICTION OF REALITIES FOR SOME IN THE GROUP LIKE THIS. YOU IN SUITS, UNC STUDENT. I SPOKE TO PROTESTING AGAINST THE SCHOOL WILL SOON GRADUATE FROM. >> I DON'T KNOW. I THINK I'M PROUD TO A STUDENT HERE. I THINK THE STUDENTS ARE SHOWING UP, BUT I CAN'T SAY THAT I'M PROUD I'M PROUD OF. YOU CAN SEE IN THE SYSTEM AND WHAT THEY'RE DOING. I KNOW THAT ABSOLUTELY. NO ONE IS PROUD OF THE INTERIM CHANCELLOR, THE PROVOST AND HOW THEY'VE HANDLED THE SITUATION AND HOW YOU CAN SEE IS CONTINUING TO CHOOSE TO INVEST IN DOMINANT. >> AND AFTER ABOUT AN HOUR AND A HALF, THE GROUP MET UP AT THAT PLAZA AND I HAD SOME CLOSING REMARKS AND EVERYBODY LEFT AND WERE ON THEIR DAY. BUT AS FOR THESE BARRICADES THAT ARE OUT HERE ON THE QUAD, I REACHED OUT TO UNC TO SEE IF THEY HAVE ANY IDEA FOR WHEN THESE WILL COME DOWN, BUT THEY DIDN'T GET BACK TO ME YET IN CHAPEL HILL. SHAUN GALLAGHER GALLAGHER, WRAL NEWS. ALL RIGHT, JOHN, THANKS FOR THAT UPDATE. >> FRENCH POLICE CALMLY CLEARED THE MAIN HALL OF ONE OF PARIS'S UNIVERSITIES THIS MORNING. PRO-PALESTINIAN PROTESTERS SHOUTED SHAME AND FREE PALESTINE. A KEY DEMAND OF SOME PROTESTERS HAS BEEN THE BREAKING OF TIES WITH UNIVERSITIES IN ISRAEL. POCKETS OF PROTESTS HAVE BEEN SEEN AT SOME CAMPUSES ACROSS THE COUNTRY. IN AUSTRALIA, SUPPORTERS OF PALESTINE AND ISRAEL HELD OPPOSING RALLIES, PRO-PALESTINIAN SUPPORTERS LINED UP THEIR TENTS IN ROSE AT THE UNIVERSITY OF SYDNEY TODAY CHANTING FOR ISRAEL AND THE

Pro-Palestinian protesters march around UNC on Friday

Nightly N.C. Education Lottery drawings during the 11 p.m. News.

Good evening. I'm Gail her. Welcome to tonight's drawings for Thursday. May 2nd 2024. Well, let's get started tonight with our Carolina pick three. Our first winning number is a two. Our second number today tonight is zero. Our third number is two again and our pick three. Fireball number is five. Joining me for tonight's joining is our auditor from mcconnell Jones L LP. Now let's move to the Carolina pick four. Good luck. Everyone here's our first winning pick four number to nine. Our second number is four. Third number tonight is seven and our fourth number is two in our pick four. Fireball number is a five. Well, turning now to the Carolina cash five. No one was the top prize tonight. Tomorrow top prize is estimated at $203,000. Good luck. Everyone is at first winning cash five number. It's a 35. Our second number is 18 3rd number tonight is six. Our fourth number is 33 and the final number in our cash ride this evening is 11. The North Carolina Education lottery has contributed over $10 billion to education. Thanks to your support. Get your winning numbers right here every night in your exclusive station for the North Carolina Education lottery. Thanks for playing. Have a great night.

Evening Pick 3 Pick 4 and Cash 5

NC Senate debates bills to require sheriffs to work with immigration officials, double school voucher funding 