If you have an IRA, you need to know about the "sweet spot." What is the IRA Sweet spot? Well, that is when you are between ages 59 and a half and 70 and a half.
Your Sweet Spot
What makes this spot sweet? This is the time when you have the most flexibility with your IRA. When you reach age 70 and a half, this will no longer be the case. At that time, required minimum distributions (RMDs) must begin. You will have to take money out of your IRA (and pay taxes on it) even if you do not want it or need it. The RMD rules will require you to withdraw a specific amount each year. You can take more, but you can never take less. If you do, you will be hit with a 50% penalty on the amount not taken.