Knowing how much you and your peers save doesn’t tell the full story, but it can be a helpful benchmark.Credit: Getty Images Key Takeaways You can start taking penalty-free withdrawals from tax-advantaged retirement accounts at 59½. Establish a target savings amount by age 59 for what would suit your retirement goals using one of several strategies. Take advantage of catch-up contributions to maximize savings. From a financial perspective, age 59 isn't just another birthday. At that age, you are ...