Improve your retirement

Odds are, you’re looking forward to retirement and are hoping it will be low-stress and enjoyable. No matter your age, there are probably some steps you can take now to improve your future financial security.

For starters: Have a plan, and be sure to follow it. Try to determine how much money you’ll need to retire with, and how you’ll amass that. (Investing regularly in a low-fee broadmarket index fund over many years can help you build a big nest egg.)

Don’t be reluctant to consult a fee-only financial planning professional: Good ones know much more about retirement issues than you do, and they can save you or earn you much more than they cost. (You can find a feeonly adviser near you at NAPFA.org.)

Many people find themselves bored or lonely in retirement. A parttime job or a social pastime can address those issues. (A part-time job for a few years can also generate welcome income.) Give some thought to jobs or activities you’d enjoy.

Take a little time to learn about Social Security, and think about when you’ll want to start collecting your benefits. You can start as early as age 62 and as late as 70; the size of your benefit checks will

depend on when you start. (Remember that while starting earlier means

smaller checks, you’ll also get more of them.) Learn more at SSA.gov.

Don’t neglect health care in your planning, as there’s a good chance it will cost you a lot. Fidelity Investments has estimated that an average couple retiring at age 65 this year will spend a total of $300,000 out of pocket on health care throughout their retirement.

The more you think about and plan for your retirement, the better it’s likely to be. You might look into buying an annuity, which can deliver reliable income for the rest of your life. A reverse mortgage, while not right for many people, may serve you well.

You can get more retirement advice by trying our “Rule Your Retirement” service at Fool.com/services.