Your peak earning years are the perfect time to supercharge your retirement strategy. Let's explore how to make the most of this critical period.
AG
by Abhishek Goel
Where You Stand: The Current Picture
Assess Current Savings
Aim for 3-4x annual salary by 45.
Review Investment Mix
Ensure balanced portfolio aligned with timeline.
Identify Protection Gaps
Health, life, and disability coverage needs review.
Evaluate Housing Strategy
Consider mortgage payoff timing before retirement.
Catch-Up Opportunities: Financial Accelerators
401(k) Catch-Up Contributions
Extra $7,500 annually once you reach 50.
IRA Catch-Up Options
Additional $1,000 yearly after age 50.
HSA Maximization
Triple tax advantage for future healthcare costs.
Backdoor Roth Strategies
Tax-free growth regardless of income limits.
Debt Reduction Strategy
High-Interest Debt First
Eliminate credit cards and personal loans.
Auto and Consumer Loans
Pay off before retirement.
Mortgage Evaluation
Consider accelerated payoff vs. investment returns.
Optimizing Tax Strategies
Asset Location
Right investments in right accounts.
Tax-Loss Harvesting
Offset gains and reduce taxable income.
Roth Conversion Ladder
Strategic conversions during lower income years.
Charitable Giving
Donor-advised funds and QCDs after 70½.
Healthcare Planning: The Missing Piece
HSA Maximization
Triple tax advantage for future medical expenses.
Healthcare Power of Attorney
Essential document for peace of mind.
Medicare Strategy
Plan enrollment timing and supplemental options.
Long-Term Care
Evaluate insurance vs. self-funding approach.
Lifestyle Adjustments: Small Changes, Big Impact
Review Monthly Expenses
Find 3-5% to redirect to savings.
Evaluate Housing Needs
Consider downsizing advantages.
Extend Working Years
Part-time work adds significant security.
Travel Planning
Balance current enjoyment with future needs.
Your Action Plan: Next Steps
1
Schedule Financial Review
Comprehensive assessment with advisor.
15%
Savings Target
Minimum of income to retirement accounts.
2x
Protection Check
Review insurance coverage annually.
5-10
Years Window
Critical period to maximize security.
Take Action: Secure Your Financial Future
Schedule a Retirement Strategy Review
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