When to Start Planning for Retirement

One of the most common questions we hear is, "When should I actually start planning for retirement?" The short answer: It's never too early, but age 60 is when you need to get serious about the details.

The Age 60 Milestone

By age 60, you're five years away from Medicare eligibility and potentially close to claiming Social Security. This is the perfect time to review your portfolio and shift your focus from accumulation to preservation and income generation.

Social Security Strategy

You can start claiming Social Security as early as age 62, but doing so will permanently reduce your monthly benefit. Waiting until your Full Retirement Age (FRA)—or even age 70—can significantly increase your lifetime income. We help our clients map out the breakeven points to make an informed decision.

Factoring in Healthcare

Healthcare is often the largest expense in retirement. Factoring in Medicare premiums, out-of-pocket costs, and potential long-term care needs is essential for a realistic retirement budget.