Your 65th birthday retirement checklist
Your 65th birthday retirement checklist
With so many critical decisions coming up, this list can help you plan for the next steps in your financial journey
CONGRATULATIONS — you’re in very good company! A record-setting 4.2 million American baby boomers turn 65 in 2025.1 Though you may share this birthday milestone and many other attributes with other boomers — as a generation, you’re wealthier2 and more active than previous generations,3 for instance — the journey ahead will likely be different for each of you.
Perhaps you’re still working. The percentage of those over age 65 who continue to work has nearly doubled over the past 35 years.4 Or maybe you’ve already retired. Either way, there are several important financial decisions you’ll need to start considering and strategies you may want to begin implementing very soon. Because you’ll be funding a retirement that could last 30 years or more, these decisions take on even more importance.
To help you identify the next steps on your financial journey, we’ve created a 65th birthday checklist. Use it to help you plan discussions with your financial advisor in the coming months.
If you're still working, make sure you're taking advantage of "catch up" contribution opportunities.
Visit Socialsecurity.gov to find your full retirement age and calculate how much your benefit would be, based on your current earnings record.
Create a monthly retirement budget -- and a plan for how you'll cover those expenses.
To help fill any gaps, research other potential income sources.
Don't forget to sign up for Medicare-- or risk paying higher premiums later.
Got an HSA? You'll have to stop making contributions once you sign up for Medicare.
Talk to your family about long-term care needs.
Start crafting your legacy.
Thinking about relocating? Plan a vacation to check out potential new zip codes.
Celebrate yourself -- and pay the good vibes forward.
