Retirement Planning at Any Age


If you think retirement planning starts when you stop working, think again. It’s never too soon to plan ahead. Whether your retirement is decades away or right around the corner, there are steps you can take right now to help make the most of your retirement years.

Tips for Ages 25 to 35

Retirement may seem a long way off, but there are already two simple, important things you can do to start preparing.

  • Gather information about your retirement options, including employer benefits and Social Security. Learn everything you can. Knowledge is key.
  • Open an IRA. Start as small as you wish, but make a habit of regular contributions. You’ll get tax advantages while accumulating retirement savings.

Tips for Ages 35 to 50

These productive work years are the perfect time to build your retirement funds. Take advantage of tools and information to calculate your needs and benefits, and formulate a specific plan.

  • Estimate your retirement age, your life expectancy and retirement benefits.
  • Learn about Social Security programs, and find out how your age may impact your benefits.
  • Review your IRA options to see whether you might benefit from a rollover or a conversion between traditional and Roth IRAs.

Tips for Ages 50 to 64

Few people ever feel completely prepared for retirement, but as you get closer to the day you leave your job, take steps to secure your future.

  • Find out what happens if you work after you retire, and how certain types of earnings and pensions can affect your benefits.
  • Learn about Medicare, and plan to sign up as you near your 65th birthday. If you’re already a beneficiary, find out how that might affect your retirement.
  • Project your estimated IRA value at retirement, and continue to make regular contributions.
  • Look into catch-up provisions for making larger contributions.

Tips for Ages 65 and Up

If you’ve planned in advance, you’re ready to find out why these are called Golden Years. Put your plans into action, and enjoy the good life. You’ve earned it.