Age 70 and ½ - 401(k) Retirement Glossary & Terminologies

The significance of this age in retirement planning is that once an investor turns 70 and ½ years of age, he must start taking minimum required distributions (MRDs) from his traditional IRA or other retirement plan. So you might ask, when exactly does a person turn 70 and ½ years old? Well the investor turns 70 and ½ years of age six calendar months after the 70th anniversary of the individual’s birth date.