Estes Wealth Strategies
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Compass Points

Financial Insights for Navigating

Your Life of Possibilities


The View Above the Tree Line: Retirement Planning in Your 50s and 60s

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For most of our 20s, 30s and 40s, it may feel like we can’t see the next curve in the trail, much less the final destination. But then in our 50s, the path begins to emerge above the tree line—offering a glimpse of retirement in the distance.

Time to check the map ... and our retirement coordinates.

Financially, these are the prime years for planning the final ascent. This includes taking inventory of your retirement savings to date and provisioning for the remainder of the journey. Here are a few items to add to your checklist:

  • Step Up Savings. It’s time to dig deep for the final stretch by maxing out retirement contributions, including “catch up” contributions allowed after age 50.
  • Adjust Your Investment Strategy. With retirement in sight, managing risk becomes a more important investing consideration. Review your asset allocation to make sure your investment strategies continue to align with your goals and timeframe for retirement.
  • Let a Financial Professional Help with the Heavy Lifting. A trusted financial advisor—think of it as having a financial “sherpa”—can help guide you through these pre-retirement years. Now is a good time to consider doing a comprehensive financial plan to clarify your retirement goals, estimate post-retirement expenses and cash flow needs, and design an income strategy.
  • Read Up Now on Social Security and Medicare. These are likely going to be important to you after retirement—and, quite frankly, they can get complicated. Make sure you understand the different options, strategies and deadlines that can have an impact on your benefits.
  • Research Long-Term Care Insurance. Assisted living and nursing care are expensive burdens in old age. Your early 50s is generally the best time to research long-term care financing options. A financial advisor can help you with this.

Emotionally, these years can be a mixed bag of anxiety and excitement.  It’s not uncommon to feel a little panicky about retirement readiness—both from a financial and emotional standpoint. But the more you prepare financially and mentally for this last leg of the journey, the more likely it is that you will feel more freedom to dream about and eagerly anticipate the “life after work” that lies ahead.



Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services offered through Raymond James Financial Services Advisors, Inc. Estes Wealth Strategies is not a registered broker/dealer and is independent of Raymond James Financial Services.

Any opinions in this newsletter are those of Estes Wealth Strategies and John Estes and not necessarily those of RJFS or Raymond James. Expressions of opinion are as of this date and are subject to change without notice.

The information provided does not purport to be a comprehensive description of securities, markets, or other developments. This information has been obtained from sources considered reliable, but we do not guarantee that the foregoing material is accurate or complete. Any information provided is not a complete summary or statement of all available data necessary for making an investment decision, nor does it constitute a recommendation.

Individual investor's results will vary. Past performance does not guarantee future results. Investing involves risk and you may incur a profit or loss. Diversification and asset allocation do not ensure a profit or protect against a loss.