When could I realistically retire?
And what changes if I work one, two, or three more years?
Retirement planning
Retirement Planning for the Years Before You Retire
The last 5 to 10 years before retirement matter most. The decisions you make now about saving, investing, your 401(k), and your retirement date shape everything that comes after. Paul helps you see clearly whether you're on track, and what to do if you're not.
What does a retirement planner do?
A retirement planner helps you figure out when you can afford to retire and what it will take to get there. That includes estimating what you'll spend, projecting income from savings and Social Security, deciding how much more to save, adjusting investment risk as retirement approaches, and planning the move from paycheck to retirement income.
Are you on track? Five questions to ask now
What will I actually spend?
Many costs drop in retirement; others, like healthcare and travel, often go up.
Am I saving enough in the right places?
Pre-tax, Roth, and taxable accounts each play a different role later.
Is my investment risk right for my timeline?
A big market drop just before retiring is hard to recover from.
What's my plan for health insurance before 65?
Retiring before Medicare means budgeting for coverage in between.
How Paul helps you prepare
Set a target date
See what retiring at 62, 65, or 67 looks like with your numbers.
Make the most of your final working years
Catch-up contributions are available at 50, with higher limits from 60 to 63 under current law, plus employer matches and Roth options.
Reduce risk at the right pace
Shift investments gradually as retirement nears, without getting too conservative too early.
Plan the transition
Decide what to do with your 401(k), pension options, and any severance or deferred compensation.
Build the income plan
Map the move from paycheck to retirement income, including Social Security timing.
Retirement is a transition, not an ending
Retirement isn't the end of planning. It's the shift from building savings to living on them. The best time to plan that shift is several years before it happens, while you still have time to adjust.
Retirement Income Planning →Straight answers
Frequently asked questions
The earlier the better, but the most important planning happens in the 5 to 10 years before you retire. That's when decisions about your retirement date, savings, investments, and Social Security come together.