Retirement Planning at Every Age: Your Decade-by-Decade Roadmap

Your 20s: Build the Foundation

Start contributing to your employer's 401(k) immediately, especially if they offer a match — it's free money. Even small contributions benefit enormously from compound growth over 40+ years. Aim to save at least 10-15% of your income.

Your 30s: Accelerate Savings

As your income grows, increase your savings rate. Open a Roth IRA for tax-free growth in retirement. Begin diversifying beyond just stocks into bonds and real estate investment trusts (REITs) for balance.

Your 40s: Catch Up and Optimize

This is the decade to get serious about catch-up contributions. Review your asset allocation to ensure it aligns with your retirement timeline. Consider working with a financial advisor to optimize your strategy.

Your 50s and 60s: Transition and Protect

Take advantage of catch-up contribution limits ($7,500 extra for 401(k)s for those 50+). Shift toward more conservative allocations. Develop a withdrawal strategy that minimizes taxes and maximizes Social Security benefits.