What you must do now:
50-59 years old
• If you have a 401k, commit to contributing the maximum amount possible to earn the matching amount from the employer. This is like free money, but don’t contribute over this amount.
• Contribute to an indexed fund that will provide you a consistent income once you retire.
• Set up automatic drafts of a set percentage of your paycheck so that every month you are contributing to your future income.
60-69 years old
• Make certain your assets are in
a principle-protected investment
• Turn on the guaranteed interest
• Determine how you can wait to file for Social Security for higher payouts.
70-79 years old
• Begin drawing Social Security benefits at age 70 and begin taking the required minimum distribution payments.
• Maximize your state and federal benefits for assisted living or nursing home costs.
• Make sure your estate presevation planning is complete and up to date and ensures protection of all your assets.
80-89 years old
• Make certain your distribution plan is in place to relieve the stress in this area for your family.
• Make certain your estate plan is
up to date.
• Minimize taxes to your loved
ones at distribution.