Stages Leading Up To Retirement

Today’s Prep:

Life isn’t just “before retirement” and “after retirement” when it comes to your financial plan. There are several stages leading up to and through retirement. Which stage are you in?


 

Equipping Points:

As you near retirement, you may be wondering what you need to do. Depending on what stage you are in, there are different strategies you should implement. On this episode of Retirement Ready, Eric will walk you through the stages leading up to retirement from when you are in your early 50s to when you

When you’re about 15 years out, what do you do with your accounts? Do you know what you want retirement to look like? The difference between being in your forties and your fifties may mean you start to really get serious about planning for retirement (including making some catch-up contributions).

As you get closer to retirement age, you may wonder about retiring early and what’s possible. What is your vision? Does that mean doing a different job with your newfound freedom? Or do you want to travel? What kind of risk should you have in your investments?

The older that you get, you’ll want to have more accurate estimates on your income streams. From Social Security to pensions to other forms of retirement income. Setting a date for retirement may help you plan accordingly.

When it finally comes time, do you know what’s most important to pay attention to? You’ll have more control over your taxes than you ever had when you were working. So, deciding which accounts to pull from at what time is key to your retirement strategy. Retirement planning doesn’t end the day you retire. Remember to continuously check back to adjust the plan according to your needs and goals.

Listen to the full episode or click on the timestamps below to hear more about the stages leading up to retirement.

0:47 – What are the different stages leading up to retirement?

1:07 – What should people think about when 15 years from retirement?

3:41 – Around 55 years old, where should people focus? 

6:33 – Five years from retirement, what is important to consider?

9:54 – On the day of retirement, what’s the most essential to know?

12:47 – Once you retire, what kind of financial planning do you do?

 

 

Related Resources:

Reasons Why People Don’t Retire

Retirement Savings Options: IRA Contributions & Roth Conversions

Facing The Final Decade Before Retirement

 

Today’s Takeaway:

[spp-tweet tweet= “Start thinking about–what do you want to do in retirement? What do you want it to be? People plan for it, they save for it, but ask: what’s my vision for retirement?  –Eric Peterson“]

More From Eric:

The host: Eric Peterson - Contact - Call: (515) 226-1500

Subscribe To The Podcast:

Apple Podcasts  -  Google Podcasts  -  Spotify  -  Stitcher  -  iHeartRadio  -  TuneIn

Check out some other recent episodes

What 400+ Advisors Say Really Keeps Retirees Up at Night

April 3, 2025

What are Americans really concerned about when it comes to retirement? In this episode, we unpack the results of an insightful survey from Financial Advisor Magazine, which was completed by over 400 financial advisors. We’ll also compare these answers with the real-world concerns we hear every day from the clients in our own practice.

Read More

Bracket Busters and Stock Flops: The Risky Game of Picking Winners

March 27, 2025

March Madness is here, and just like filling out a bracket, picking individual stocks can feel like a thrilling gamble. But the odds of winning big are slim. In fact, history shows that most stock picks, like most brackets, end up busted.

Read More

Are Hidden Fees Draining Your Retirement Savings?

March 20, 2025

In this episode, Eric reveals the true cost of investing and how to protect yourself from unnecessary financial drains.

Read More

What Game Night Can Teach Us About Financial Planning

March 13, 2025

In this episode, Eric breaks down the surprising financial lessons hidden in classic board games, offering valuable insights to help you navigate your retirement strategy.

Read More

Mailbag – Upsizing, Financial Advisors & Business Owner Planning

March 6, 2025

Join us as we answer questions about the challenges of downsizing, the emotional aspects of planning for family gatherings, and the realities of transitioning into a financial advisory career.

Read More

Planning for Unique Situations in Retirement

February 27, 2025

While many face the same general retirement concerns, each individual’s situation is unique, requiring tailored solutions.

Read More

Planning for Kids, Grandkids, & Your Future

February 20, 2025

As many nearing retirement age are discovering, adult children and grandchildren can significantly influence financial strategies, making it crucial to understand how to navigate these relationships effectively.

Read More

Financial Planning Conversations for Couples

February 13, 2025

This episode is focused specifically on that planning we do with couples with insights on how we help them navigate tricky conversations about money and retirement.

Read More

Is Your Retirement Based on Wishful Thinking?

February 6, 2025

Many people fall into the trap of wishful thinking when it comes to what they expect will happen in retirement, but a successful retirement isn’t built on hope and assumptions.

Read More

Spending With Confidence in Retirement

January 30, 2025

Eric shares strategies to help retirees enjoy their savings while ensuring financial security.

Read More

Leave a Comment