Investing for a 60-Year-Old
At age 60, you enter the three-year SECURE 2.0 window (ages 60-63) during which the IRA catch-up contribution limit rises from $7,500 to $11,250 and the 401(k)/403(b) catch-up rises to $11,250 on top of the base $23,500 limit (combined $34,750). Use all three years. Medicare eligibility begins at 65, so private or employer coverage must hold for five more years. Social Security claiming begins no earlier than 62, but claiming before your full retirement age (67 for those born 1960 or later) locks in a permanent reduction. Review Roth conversion candidates before income rises further.