Six Birthdays You'll Either Love or Hate

When we're young there's always a birthday to look forward to, whether it's getting a drivers license at 16 or being able to buy a drink at 21. But there comes a point where most people stop looking forward to the next birthday.

But if you're approaching retirement age, there are several birthdays at which certain benefits and entitlements kick in, giving you something to look forward to as you hit your golden years. Here are six age milestones to mark on your calendar:

Age 59 ½

You may have been in preschool the last time you counted half birthdays, but the Social Security Administration still does. When you turn 59½, you can celebrate by starting your withdrawals from your retirement plan or IRA. You can finally do so without being subject to the 10% penalty you'd generally have to pay at a younger age.

Age 60

This is the earliest that a widow or widower can collect benefits from Social Security (if the surviving spouse is disabled, this benefit kicks in at age 50). As a general rule, early survivors benefits will give about the same total Social Security survivors benefits over the course of a lifetime. However, the installment amounts will be smaller to take into account the longer period you will receive them. ...