What to Do 10 Years Before Retirement

Retirement is closer than you think—here’s how to make every dollar count.

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You’re in your 50s, heading down the stretch toward retirement. The kids are probably gone or on their way out the door, and it’s time to focus on you. The next 10 years are pivotal for your retirement planning and reaching your goals.

But what should you be doing at this stage? Part of looking toward the future is assessing where you are in the present. Taking a realistic view of your circumstances and where you want to be in 10 years is key to having a financially sound retirement.

Determine What You’ll Need

Whether you’ve been putting money away all along or are just starting to do so, you’re going to need a plan. Envision what kind of retirement you want. Will you work part time, travel, or volunteer? Or maybe you just want to relax on the beach with a book. Your future lifestyle determines what you need in finances.