Retirement Planning

Retirement planning is easier when broken into stages: estimate future spending, choose tax-advantaged accounts, automate contributions, and adjust the portfolio as retirement approaches.

Retirement building blocks

• Estimated living costs in retirement.
• Expected Social Security timing.
• Savings rate and retirement date.
• Healthcare, taxes, and inflation planning.

Common account types

• 401(k) and similar employer plans.
• Traditional IRA.
• Roth IRA.
• Taxable brokerage accounts.

How much to save

There is no universal number, but many savers use contribution-rate targets, replacement-income estimates, or milestone benchmarks by age. The key step is to start and automate.

Pre-retirement review

1. Review debt and fixed expenses.
2. Stress-test the budget under inflation.
3. Check beneficiary designations.
4. Revisit risk level and cash reserves.