Retirement Planning in Your 20s & 30s: Build Wealth Early

Retirement Planning in Your 20s and 30s: The Ultimate Guide to Financial Freedom

The best time to plant a tree was 20 years ago. The second best time is now—and that applies to retirement planning too.

Time is your greatest asset: How early retirement planning creates exponential wealth.

The Retirement Reality Check: What "Starting Early" Really Means

Meet Alex and Jordan - The Tale of Two Approaches:

Alex (age 23) just got her first job making $45,000. Her dad keeps saying "start investing for retirement," but her student loans are $400/month, rent is $1,200, and she's trying to build an emergency fund. Sound familiar?

Jordan (age 28) ignored retirement advice for five years. He's now making $65,000, has his emergency fund, and finally feels "ready" to start retirement planning.

Here's what actually happened:

Alex's "Imperfect" Start:

• Could only invest $50/month initially
• Increased to $100/month after six months
• By age 28: $4,200 invested, worth $5,100
• Never felt like she was doing "enough"

Jordan's "Perfect" Start:

• Waited until he could invest $300/month "properly"
• Consistent from day one
• By age 28: $0 invested
• Felt confident in his approach

The 40-year outcome? Alex's early $5,100 becomes $367,000 at retirement. Jordan needs to save $850/month to match her results.

The lesson: Imperfect action beats perfect inaction. Starting with $25/month is infinitely better than waiting to start with $500/month.

Why Starting Early Matters: The Numbers Don't Lie

The Power of Time

Sarah starts at 25:

• Contributes $200/month ($2,400/year)
• Stops contributing at 35 (10 years, $24,000 total)
• 7% annual return
• Value at 65: $525,000

Mike starts at 35:

• Contributes $200/month ($2,400/year)
• Continues until 65 (30 years, $72,000 total)
• 7% annual return
• Value at 65: $246,000

Sarah invested $48,000 less but ended up with $279,000 more!

This demonstrates how starting early creates exponential advantages through compound growth and time.

Understanding Your Retirement Account Options

401(k) Plans: Your Employer's Gift

Traditional 401(k)

• Tax Treatment: Deduct contributions now, pay taxes in retirement
• 2025 Limits: $23,500 per year (under 50)
• Employer Match: Free money - always contribute enough to get full match
• Pros: Immediate tax savings, high contribution limits
• Cons: Required minimum distributions, taxes on withdrawals

Roth 401(k)

• Tax Treatment: Pay taxes now, tax-free withdrawals in retirement
• Same contribution limits as traditional 401(k)
• Best For: Young workers in lower tax brackets
• Advantage: Tax-free growth for decades

Individual Retirement Accounts (IRAs)

Traditional IRA

• 2025 Limit: $7,000 per year
• Tax Deduction: May be limited if you have a 401(k)
• Flexibility: More investment options than most 401(k)s
• Required Distributions: Must start at age 73

Roth IRA

• Income Limits: Phased out starting at $138,000 (single) in 2025
• Tax-Free Growth: No taxes on qualified withdrawals
• No Required Distributions: Keep money growing forever
• Early Access: Can withdraw contributions anytime without penalty

Which Account Should You Prioritize?

The Employer Match Strategy Most People Get Wrong

The Standard Advice: "Always contribute enough to get the full employer match - it's free money!"

The Reality Check: This advice assumes you can afford it. Here's what to do when you can't:

Scenario 1: You're Living Paycheck to Paycheck

• Start with 1% contribution, increase by 1% every quarter
• Use tax refund or bonuses to catch up
• Consider Roth 401(k) if you're in a low tax bracket now
• Real example: Tom started at 1%, reached full match (6%) after 18 months

Scenario 2: You Have High-Interest Debt

• Match beats debt if employer match is > debt interest rate
• Credit card debt at 24%? Pay that first, then retire
• Student loans at 4%? Take the match, minimum payments on loans
• Case study: Jessica had $8,000 credit card debt but 50% employer match. She contributed just enough for the match while aggressively paying down the card.

Scenario 3: No Emergency Fund

• Build $1,000 emergency fund first
• Then split between emergency fund and employer match
• Once emergency fund is complete, maximize the match
• Why: You don't want to raid your 401(k) for emergencies

Retirement Savings Targets by Age

Your 20s: Building the Foundation

Target: 1x annual salary by age 30

Monthly Savings Goals:

• Age 22 (starting salary $40,000): Save $300/month (9%)
• Age 25 (salary $50,000): Save $400/month (9.6%)
• Age 28 (salary $60,000): Save $500/month (10%)

Key Strategies:

• Start immediately - even $50/month matters
• Increase contributions with every raise
• Take advantage of employer match
• Choose growth-focused investments

Your 30s: Accelerating Growth

Targets:

• 3x annual salary by age 35
• 5x annual salary by age 40

Monthly Savings Goals:

• Age 30 (salary $70,000): Save $875/month (15%)
• Age 35 (salary $85,000): Save $1,060/month (15%)
• Age 38 (salary $95,000): Save $1,425/month (18%)

Key Strategies:

• Bump up savings rate to 15-20%
• Maximize employer benefits
• Consider Roth conversions during lower-income years
• Diversify with taxable accounts

Investment Strategies by Age

Asset Allocation in Your 20s

Aggressive Growth (90/10 or 100% stocks)

• 70% US Stock Market Index
• 20% International Stocks
• 10% Bonds (optional)

Why This Works:

• 40+ years until retirement
• Can weather market volatility
• Maximum growth potential
• Time to recover from downturns

Sample Portfolio:

• 40% Total Stock Market Index (VTI)
• 30% S&P 500 Index (VOO)
• 20% International Developed (VXUS)
• 10% Emerging Markets (VWO)

Asset Allocation in Your 30s

Moderate Growth (80/20 or 85/15)

• 60% US Stocks
• 25% International Stocks
• 15% Bonds

The Shift:

• Slightly more conservative
• Some bond allocation for stability
• Still heavily growth-focused
• 30+ years of growth ahead

Common Retirement Planning Mistakes to Avoid

Mistake 1: Not Starting Because You Can't Save Much

Wrong Thinking: "I can only save $25/month, so why bother?"

Reality Check:

• $25/month for 40 years at 7% = $65,000
• Starting small builds the habit
• You can increase contributions later
• Something is always better than nothing

Mistake 2: Cashing Out 401(k) When Changing Jobs

The Cost:

• 10% early withdrawal penalty
• Income taxes on the full amount
• Lost years of compound growth

Better Options:

• Rollover to new employer's 401(k)
• Rollover to IRA for more investment options
• Leave it with old employer (if balance is high enough)

Mistake 3: Being Too Conservative Too Early

Common Error: Putting all money in bonds or money market funds

Why It Hurts:

• Inflation erodes purchasing power
• Missing decades of potential growth
• May not reach retirement goals

Better Approach: Accept short-term volatility for long-term growth

Mistake 4: Trying to Time the Market

The Temptation: Stop contributing during market downturns

Why It Backfires:

• Missing the best recovery days
• Buying fewer shares when markets recover
• Emotional decision-making leads to poor results

Solution: Consistent dollar-cost averaging regardless of market conditions

Advanced Strategies for Your 30s

Strategy 1: The Roth Conversion Ladder

How It Works:

• Convert traditional IRA/401(k) funds to Roth IRA
• Pay taxes on converted amount
• Wait 5 years, then withdraw tax-free

Best Times to Convert:

• Lower-income years
• Market downturns (convert more shares)
• Before major income increases

Strategy 2: Mega Backdoor Roth

Requirements:

• 401(k) allows after-tax contributions
• 401(k) allows in-service withdrawals or conversions

Process:

1. Max out regular 401(k) ($23,500)
2. Contribute after-tax dollars (up to $70,000 total limit)
3. Immediately convert to Roth 401(k) or Roth IRA
4. Result: Up to $46,500 additional Roth contributions

Strategy 3: Tax-Loss Harvesting

In Taxable Accounts:

• Sell losing investments to offset gains
• Reduce current year taxes
• Reinvest proceeds in similar (not identical) investments
• Improve after-tax returns

Retirement Planning for Different Income Levels

Income: $40,000 - $60,000

Monthly Retirement Savings: $400 - $750 (10-15%)

Strategy:

• Contribute to 401(k) up to match
• Open Roth IRA (likely in low tax bracket)
• Focus on low-cost index funds
• Gradually increase savings rate

Sample Allocation:

• $200/month to 401(k) (get full employer match)
• $350/month to Roth IRA
• Total: $550/month (11% of $60,000 salary)

Income: $60,000 - $100,000

Monthly Retirement Savings: $750 - $1,500 (15-18%)

Strategy:

• Max out employer match first
• Consider mix of traditional and Roth contributions
• May hit Roth IRA income limits
• Add taxable investing if needed

Sample Allocation:

• $500/month to 401(k)
• $583/month to Roth IRA (max it out)
• $300/month to taxable account
• Total: $1,383/month (17% of $100,000 salary)

Income: $100,000+

Monthly Retirement Savings: $1,500+ (18-25%)

Strategy:

• Max out 401(k) ($1,958/month in 2025)
• May not qualify for Roth IRA (use backdoor Roth)
• Significant taxable investing
• Consider mega backdoor Roth if available

Creating Your Retirement Action Plan

Phase 1: Foundation (First 3 Months)

Week 1-2: Assessment

• Calculate current net worth
• Determine retirement savings target
• Review employer 401(k) benefits

Week 3-4: Account Setup

• Enroll in 401(k) if not already participating
• Open Roth IRA with low-cost provider
• Set up automatic contributions

Month 2: Investment Selection

• Choose appropriate asset allocation
• Select low-cost index funds
• Set up automatic investing

Month 3: Optimization

• Increase 401(k) contribution if possible
• Maximize employer match
• Set up annual contribution increases

Phase 2: Acceleration (Months 4-12)

Quarterly Reviews:

• Track progress toward targets
• Rebalance investments if needed
• Increase contributions with raises

Mid-Year Check:

• Assess if on track for annual goals
• Consider Roth conversion opportunities
• Optimize tax withholdings

Year-End Planning:

• Max out contributions if possible
• Tax-loss harvesting in taxable accounts
• Plan next year's savings increases

Tools and Resources for Success

Best Retirement Calculators

1. Personal Capital (Free)

• Comprehensive retirement planning
• Investment tracking
• Fee analyzer

2. Vanguard Retirement Planner

• Monte Carlo projections
• Multiple scenarios
• Integration with Vanguard accounts

3. FidSafe (Fidelity)

• Detailed retirement income planning
• Social Security optimization
• Healthcare cost projections

Investment Platforms

Best for Beginners:

• Fidelity: $0 minimums, excellent research
• Vanguard: Low-cost index funds, great for long-term
• Schwab: Comprehensive platform, good customer service

Robo-Advisors:

• Betterment: Automatic rebalancing, tax-loss harvesting
• Wealthfront: Advanced tax optimization
• Vanguard Digital Advisor: Low-cost robo with human backup

Tracking Your Progress

Monthly Tasks:

• Review account balances
• Ensure contributions are happening automatically
• Check for any needed rebalancing

Quarterly Tasks:

• Calculate progress toward annual targets
• Review investment performance
• Adjust contributions if income changed

Annual Tasks:

• Complete comprehensive financial review
• Optimize tax strategies
• Plan contribution increases for next year

The Financial Independence Option

What is FIRE?

Financial Independence, Retire Early

• Save 50-70% of income
• Retire in 10-20 years instead of 40+
• Live off investment returns

The 25x Rule:

• Save 25 times your annual expenses
• Withdraw 4% annually in retirement
• Money should theoretically last forever

FIRE Strategies for Your 20s and 30s

Lean FIRE (Retire on $40,000/year):

• Need $1 million saved
• Achievable with aggressive saving
• Requires lower cost of living

Regular FIRE (Retire on $80,000/year):

• Need $2 million saved
• More comfortable retirement lifestyle
• Requires high income and savings rate

Fat FIRE (Retire on $150,000+/year):

• Need $3.75+ million saved
• Luxurious retirement lifestyle
• Requires very high income and savings

Frequently Asked Questions

Getting Started Questions

Q: I'm 35 and haven't started saving for retirement. Is it too late? A: Absolutely not! While starting at 25 gives you a 10-year advantage, starting at 35 still gives you 30 years to build wealth. You'll need to save a higher percentage of your income, but it's entirely achievable. Focus on maximizing employer matches first, then increasing contributions by 1% annually.

Q: Should I prioritize paying off debt or saving for retirement? A: Generally, contribute enough to get your full employer match first (that's free money), then pay off high-interest debt (above 6-7%), then maximize retirement savings. Low-interest debt (like mortgages under 4%) can often be carried while investing for higher returns.

Q: How much of my income should I save for retirement? A: Aim for 10-15% minimum, but more is better. If you're starting late, you might need 20-25%. Include any employer match in this calculation. Start with what you can afford and increase by 1% annually.

Q: What if my employer doesn't offer a 401(k)? A: Open an IRA (Individual Retirement Account). You can contribute up to $6,000 annually ($7,000 if 50+). Consider a SEP-IRA if you're self-employed. Some employers offer Simple IRAs as an alternative to 401(k)s.

Investment and Strategy Questions

Q: Should I choose Traditional or Roth retirement accounts? A: Generally choose Roth if you're in a lower tax bracket now than you expect in retirement (common for younger workers). Choose Traditional if you're in a high tax bracket now. Many people benefit from having both for tax diversification.

Q: What should I invest in within my retirement accounts? A: For most people, low-cost index funds or target-date funds are best. Target-date funds automatically adjust your allocation as you age. If you want more control, consider a three-fund portfolio: US stocks, international stocks, and bonds.

Q: Should I roll over my 401(k) when I change jobs? A: Usually yes, to maintain control and potentially lower fees. You can roll it to your new employer's 401(k) or to an IRA. IRAs typically offer more investment options. Never cash out your 401(k) when changing jobs—the penalties and taxes are severe.

Q: When can I access my retirement money without penalties? A: Generally age 59½ for most accounts. Roth IRA contributions can be withdrawn anytime penalty-free (but not earnings). There are some exceptions for first-time home purchases, education expenses, and hardships, but these should be last resorts.

Advanced Planning Questions

Q: How do I calculate how much I'll need in retirement? A: A common rule is 10-12x your final working year's salary by retirement. More precisely, estimate your annual retirement expenses and multiply by 25 (assumes 4% withdrawal rate). Don't forget to account for inflation and healthcare costs.

Q: Should I consider a financial advisor? A: For basic retirement saving, you can likely manage yourself with low-cost index funds. Consider an advisor if you have complex situations (business ownership, large inheritance, approaching retirement), or if you consistently make emotional investment decisions.

Q: What about Social Security in my retirement planning? A: Include it but don't rely solely on it. Visit ssa.gov to get your estimated benefits. For planning purposes, assume Social Security covers 25-40% of your retirement income needs. The rest needs to come from your savings and investments.

Advanced Retirement Strategies

The Roth Conversion Ladder

What It Is: Converting Traditional IRA funds to Roth IRA gradually over time.

When It Makes Sense:

• During low-income years (job loss, sabbatical)
• Early retirement before Social Security begins
• When tax rates are temporarily low
• To reduce future Required Minimum Distributions

Strategy Example: Age 60-65: Convert $20,000 annually from Traditional to Roth

• Pay taxes on conversions at potentially lower rates
• Money grows tax-free after conversion
• No RMDs on Roth accounts

The Mega Backdoor Roth

What It Is: Contributing after-tax dollars to your 401(k), then converting to Roth.

Requirements:

• 401(k) plan allows after-tax contributions
• Plan allows in-service withdrawals or conversions
• You've maxed out regular 401(k) and IRA contributions

Benefit: Can contribute up to $66,000+ annually to Roth-style accounts (2024 limits).

Asset Location Strategy

Tax-Efficient Placement:

401(k)/Traditional IRA (Tax-Deferred):

• Bonds and REITs (tax-inefficient investments)
• Actively managed funds
• High-dividend stocks

Roth IRA (Tax-Free):

• Highest growth potential investments
• Small-cap stocks
• Emerging markets

Taxable Accounts:

• Tax-efficient index funds
• Individual stocks (for tax-loss harvesting)
• Municipal bonds (if in high tax bracket)

Early Retirement Strategies (FIRE Movement)

Bridge Strategies for Retirement Before 59½:

Roth IRA Ladder:

• Convert Traditional IRA to Roth annually
• Wait 5 years, then withdraw conversions penalty-free
• Plan conversions 5 years before needed

72(t) Substantially Equal Periodic Payments:

• Withdraw from IRA before 59½ without penalty
• Must take same amount for 5 years or until 59½
• Complex rules—consult tax professional

Taxable Account Bridge:

• Build substantial taxable investments
• Use during early retirement years
• Transition to retirement accounts at 59½

Retirement Planning by Career Type

Traditional Employees

Advantages:

• Employer-sponsored 401(k) with potential matching
• Predictable income for planning
• Group insurance benefits

Strategy:

• Maximize employer match first
• Increase contributions with salary raises
• Consider supplemental IRA
• Plan for post-retirement healthcare

Self-Employed/Freelancers

Advantages:

• Higher contribution limits (SEP-IRA, Solo 401(k))
• More control over retirement timing
• Potential business sale proceeds

Challenges:

• Irregular income
• No employer match
• Must plan for healthcare independently

Strategy:

• Solo 401(k) for maximum contributions
• Percentage-based savings during good months
• Build larger emergency fund
• Consider defined benefit plans for high earners

Government Employees

Advantages:

• Pension plans (defined benefit)
• Thrift Savings Plan (TSP) with low fees
• Job security

Strategy:

• Understand pension vesting requirements
• Maximize TSP contributions
• Consider state-specific retirement benefits
• Plan for pension + personal savings combination

Teachers/Educators

Advantages:

• Teacher pension systems
• 403(b) plans available
• Potential loan forgiveness programs

Challenges:

• Lower salaries during working years
• Complex pension calculations
• Limited 403(b) investment options

Strategy:

• Understand pension benefits and vesting
• Supplement with IRA if 403(b) options are poor
• Consider summer/side income for additional savings
• Plan around academic calendar

International Retirement Considerations

US Citizens Living Abroad

Tax Implications:

• Still owe US taxes on retirement accounts
• Foreign Earned Income Exclusion may limit IRA contributions
• Tax treaties can affect retirement account treatment

Strategy:

• Understand totalization agreements for Social Security
• Consider Roth conversions while in low-tax countries
• Plan for currency fluctuations
• Maintain US bank accounts for retirement distributions

Foreign Nationals in the US

Considerations:

• 401(k) benefits may not transfer to home country
• Tax treaties affect retirement account treatment
• Social Security benefits may be limited

Strategy:

• Maximize US retirement accounts while eligible
• Understand home country tax implications
• Consider international tax advisor
• Plan for potential return to home country

Expat Retirement Locations

Popular Destinations:

• Portugal: Golden Visa program, lower cost of living
• Costa Rica: Stable democracy, good healthcare
• Mexico: Proximity to US, lower costs
• Malaysia: MM2H program, English-speaking

Planning Considerations:

• Healthcare quality and costs
• Currency stability
• Tax implications in both countries
• Visa/residency requirements

Healthcare and Long-Term Care Planning

Healthcare Cost Planning

Reality Check: Healthcare is typically retirees' largest expense after housing.

Medicare Planning:

• Understand Parts A, B, C, and D
• Plan for Medigap insurance costs
• Budget for dental and vision (not covered)

Cost Estimates:

• Average retiree needs $300,000+ for healthcare
• Long-term care averages $50,000+ annually
• Prescription costs can be substantial

Long-Term Care Insurance

When to Consider:

• Ages 50-65 (optimal purchasing window)
• Assets between $200,000-$2 million
• Family history of long-term care needs

Alternatives:

• Self-insure with larger retirement savings
• Hybrid life insurance/LTC policies
• Medicaid planning (for lower assets)

Health Savings Accounts (HSAs)

Triple Tax Advantage:

• Deductible contributions
• Tax-free growth
• Tax-free withdrawals for medical expenses

Retirement Strategy:

• Max out HSA contributions annually
• Don't use for current medical expenses if possible
• Invest HSA funds like retirement account
• After 65, can withdraw for any purpose (taxed like Traditional IRA)

Estate Planning and Legacy Considerations

Basic Estate Planning Documents

Essential Documents:

• Will (updated every 5 years)
• Durable Power of Attorney
• Healthcare Power of Attorney
• Advanced Healthcare Directive

Retirement Account Beneficiaries:

• Review and update annually
• Consider contingent beneficiaries
• Understand spousal vs. non-spousal inheritance rules

Generational Wealth Strategies

Roth IRA Legacy Planning:

• No RMDs for original owner
• Beneficiaries can stretch distributions over 10 years
• Tax-free inheritance for heirs

Charitable Giving Strategies:

• Qualified Charitable Distributions from IRA after 70½
• Donor-advised funds for tax-efficient giving
• Charitable remainder trusts for large estates

Business Succession Planning

For Business Owners:

• Exit strategy planning
• Business valuation
• Key person insurance
• Buy-sell agreements

Technology and Retirement Planning

Essential Tools and Apps

Portfolio Management:

• Personal Capital: Free net worth tracking
• Mint: Budgeting and expense tracking
• Vanguard/Fidelity Apps: Account management

Retirement Calculators:

• FidSafe: Comprehensive retirement planning
• NewRetirement: Detailed scenario planning
• Social Security Administration: Benefit estimates

Tax Planning:

• TurboTax/H&R Block: Tax preparation
• Roth Conversion Calculators: Online tools
• Tax-loss harvesting apps: For taxable accounts

Robo-Advisors for Retirement

When They Make Sense:

• Simple situations
• Lower account balances
• Hands-off approach preferred

Top Options:

• Betterment: Goal-based investing
• Wealthfront: Tax-loss harvesting
• Schwab Intelligent: No advisory fees
• Vanguard Digital: Low-cost option

Common Retirement Planning Mistakes

Starting Too Late

Problem: Waiting until 40s or 50s to start serious retirement saving Solution: Start immediately with whatever amount possible, increase aggressively

Being Too Conservative

Problem: Keeping all retirement money in savings accounts or CDs Solution: Age-appropriate stock allocation, even in retirement

Cashing Out 401(k)s

Problem: Taking cash when changing jobs instead of rolling over Solution: Always roll over to new 401(k) or IRA

Ignoring Employer Match

Problem: Not contributing enough to get full company match Solution: This is literally free money—prioritize above all else

Lifestyle Inflation

Problem: Increasing spending with every raise instead of increasing savings Solution: Increase retirement contributions with salary increases

Lack of Tax Diversification

Problem: Having all money in Traditional or all in Roth accounts Solution: Mix of Traditional and Roth for tax flexibility in retirement

Not Planning for Healthcare

Problem: Underestimating healthcare costs in retirement Solution: Budget for Medicare premiums, long-term care, and uncovered expenses

Retirement Income Strategies

The 4% Rule Explained

Traditional Approach: Withdraw 4% of portfolio value annually Reality: Rules need flexibility based on market conditions and personal needs

Dynamic Withdrawal Strategies:

• Guardrails Approach: Increase/decrease withdrawals based on portfolio performance
• Bond Ladder: Create predictable income stream
• Bucket Strategy: Different time horizons for different goals

Social Security Optimization

Claiming Strategies:

• Early (62): Reduced benefits but immediate income
• Full Retirement Age (66-67): 100% of calculated benefits
• Delayed (70): 132% of calculated benefits

Spousal Strategies:

• Higher earner delays to maximize survivor benefits
• Lower earner may claim early while higher earner delays
• Coordinate with overall tax strategy

Pension vs. Lump Sum Decisions

Consider Pension If:

• You want guaranteed income
• You're in poor health (survivor benefits)
• Interest rates are low
• You're not confident in investment management

Consider Lump Sum If:

• You want control over investments
• You have other guaranteed income sources
• You want to leave money to heirs
• Pension plan appears unstable

90-Day Retirement Planning Action Plan

Days 1-30: Assessment and Foundation

Week 1:

• Calculate current net worth
• Gather all retirement account statements
• Estimate Social Security benefits at ssa.gov
• Determine your retirement timeline and goals

Week 2:

• Review current 401(k) contributions and employer match
• Research investment options in your 401(k)
• Open IRA if you don't have one
• Set up automatic monthly contributions

Week 3:

• Calculate retirement savings target using age milestones
• Determine current savings rate as percentage of income
• Identify areas to increase savings rate
• Review and update account beneficiaries

Week 4:

• Set up annual contribution increases
• Research target-date funds or create investment allocation
• Schedule quarterly review meetings with yourself
• Celebrate progress and stay motivated

Days 31-60: Optimization

Week 5-6:

• Increase 401(k) contribution if possible
• Research Roth IRA conversion opportunities
• Optimize investment allocation across all accounts
• Consider increasing emergency fund if needed

Week 7-8:

• Research advanced strategies (HSA, backdoor Roth)
• Plan retirement contribution increases with future raises
• Consider healthcare and long-term care planning
• Update estate planning documents

Days 61-90: Advanced Planning

Week 9-10:

• Consider working with fee-only financial planner
• Research tax-loss harvesting for taxable accounts
• Plan asset location strategy across account types
• Set up annual retirement planning review

Week 11-12:

• Project retirement income needs and sources
• Consider advanced strategies based on income level
• Plan for retirement healthcare costs
• Finalize written retirement plan

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Your Next Steps

The path to a secure retirement starts with taking action today. Even if you're behind where you "should" be, starting now is infinitely better than waiting another year.

Your Three-Step Retirement Action Plan:

1. Start immediately: Even $25/month builds the habit and begins compound growth
2. Automate everything: Remove emotion and forgetfulness from the equation
3. Increase systematically: Annual contribution increases make dramatic differences over time

Remember: Time is your most powerful wealth-building tool. Every month you delay is a month of compound growth you'll never get back. But every dollar you invest today works for you for decades to come.

Ready to secure your future? Open a retirement account this week and make your first contribution. Your 65-year-old self will thank you for taking action today instead of waiting for the "perfect" time.

The best time to start saving for retirement was 20 years ago. The second best time is now.