Contents
Retirement Planning Essentials
Secure your future with comprehensive retirement planning and savings strategies. Start building the retirement you deserve with expert guidance and smart planning.
Retirement Accounts Overview
401(k) Plans
Employer-sponsored retirement savings with potential matching contributions.
- • Pre-tax contribution benefits
- • Employer matching programs
- • High contribution limits
- • Loan and hardship options
Traditional IRA
Individual retirement account with potential tax deduction on contributions.
- • Tax-deferred growth
- • Required minimum distributions
- • Income limits for deductions
- • Penalty-free early withdrawals
Roth IRA
After-tax contributions with tax-free growth and qualified withdrawals.
- • Tax-free retirement income
- • No required distributions
- • Income limits apply
- • 5-year rule considerations
Retirement Savings Milestones
Retirement Savings Milestones
By Age 30
Have saved 1x your annual salary
By Age 40
Have saved 3x your annual salary
By Age 50
Have saved 6x your annual salary
By Age 60
Have saved 8x your annual salary
Note: These are general guidelines. Your actual needs may vary based on lifestyle, healthcare costs, and retirement goals. Consider consulting with a financial advisor for personalized planning.
Social Security & Healthcare
Social Security Strategy
Maximize your Social Security benefits with strategic claiming decisions.
- • Early Retirement (Age 62): ~75% of FRA
- • Full Retirement Age (66-67): 100% of FRA
- • Delayed Retirement (Age 70): ~132% of FRA
Healthcare Planning
Prepare for healthcare costs that can significantly impact retirement budgets.
- • Medicare Enrollment: sign up 3 months before turning 65
- • Long-term Care: consider insurance or HSA savings
- • Health Savings Account: triple tax advantage
- • Estimated Costs: $300,000+ for healthcare in retirement
Your Retirement Planning Checklist
Your Retirement Planning Checklist
Getting Started (20s-30s)
- Enroll in employer 401(k) with matching
- Open and fund a Roth IRA
- Set retirement savings goal (10-15% of income)
- Automate contributions and increases
Mid-Career (40s-50s)
- Maximize catch-up contributions (age 50+)
- Diversify retirement account types
- Plan for healthcare and long-term care
- Consider Roth conversions
Quick Retirement Needs Calculator
Quick Retirement Needs Calculator
Use the 4% rule as a starting point: Multiply your desired annual retirement income by 25 to estimate your needed retirement savings.
Example: Need $60,000/year? Target: $1,500,000 in retirement savings
Retirement Savings Projection Calculator
Estimate your retirement savings using monthly compounding.
Start Planning Your Dream Retirement
Get personalized retirement planning information and create a strategy that fits your unique goals and timeline.