Part 3 of 5: 40s & 50s

Planning for retirement is a lifelong process.  Be on the lookout for your age for steps you should be taking right now.  And remember, everyone over 18 should have a living will.


Your 40s

  • If you haven’t talked to a financial planner about a retirement plan, now is a good time to start.
  • Try to save a least 10% of your yearly income for retirement.
  • Don’t let your children’s college tuition distract you from retirement goals.


Your 50s

  • Put 15 to 20% of your income into retirement savings
  • Consider long-term care insurance now, while rates are more affordable.
  • Planning becomes more important than ever.  Check with your financial planner to make sure your plan is on track.
  • You are entering the preservation stage.  Fifty percent of your portfolio should be in income-type investments as a rule of thumb.
  • At 59 ½, you can begin taking distributions from your retirement accounts without a 10% penalty.
  • Consider a Roth IRA conversion.



Copyright 2017, Campbell & Company, CPAs, PA

Investment Advisory Services offered through Retirement Wealth Advisors, (RWA) a Registered Investment Advisor. Campbell & Company and RWA are not affiliated. Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Consult your financial professional before making any investment decision.

Information is general in nature and is intended as a guideline.  Consult with your financial advisor to to customize and monitor your financial plan.