Every summer seems to fly by faster than the last, and while you’re making memories and soaking in the sunshine, there’s one reality quietly ticking in the background:
You’re one summer closer to retirement.
Whether that’s a welcome thought or a bit of a wake-up call, it’s a powerful reminder that time is moving, and so should your retirement planning.
Confident Retirement Planning: Key Milestones
At Trajan Wealth, we help people confidently prepare for retirement by breaking it down into manageable phases. Whether you’re just starting to get serious or you’re nearing the finish line, here’s what to consider at each major milestone:
20 Years Out: Laying the Groundwork for Your Financial Future
At this stage, time is on your side and the decisions you make now can dramatically shape your financial future.
Key Considerations: Maximize Savings & Diversify
- Maximize contributions to your 401(k), IRA, or Roth IRA. Time + compounding = your superpower.
- Diversify your portfolio with a long-term growth mindset.
- Start estimating your retirement number. Meet with a fiduciary advisor to project how much you’ll need to retire comfortably.
- Reduce high-interest debt. The less you owe in retirement, the more freedom you’ll have.
- Picture your future lifestyle. Retirement is more than an age — it’s a vision. Will you travel? Downsize? Start a business?
Habits for Long-Term Wealth Building
Reminder: The habits you build now will pay off big-time down the road.
15 Years Out: Level Up Your Retirement Strategy
You’re still in the growth zone, but now it’s time to fine-tune. Mid-career is the perfect moment to get crystal clear on your goals and start making more targeted decisions.
Key Considerations: Reevaluate Savings & Balance Risk
- Balance growth with risk. Keep a solid stock allocation but slowly begin to reduce volatility.
- Look into Roth conversions. This could help reduce your tax burden in retirement, especially if you expect to be in a higher tax bracket.
- Explore additional investment vehicles, such as HSAs, taxable brokerage accounts, or annuities (if appropriate).
- Start thinking about your kids’ financial dependency. Will you still be helping with college or supporting adult children?
Mid-Career Financial Checkup with a Fiduciary Advisor
Reminder: This is a great time to do a mid-career checkup with a fiduciary advisor.
10 Years Out: Shifting from Growth to Distribution Strategy
Now the countdown feels real. At this point, your focus should begin to shift from accumulation to distribution strategy — and ensuring your plan is resilient to potential bumps in the road.
Key Considerations: Estimate Expenses & Adjust Portfolio Mix
- Estimate your retirement expenses. Be honest about lifestyle expectations and healthcare costs.
- Adjust your portfolio mix. Begin reducing exposure to higher-risk investments and increase your safety net.
- Evaluate if an Annuity is right for you. Look into the various types for guaranteed income in retirement.
- Map out your income sources. Include Social Security, pensions, retirement accounts, rental income, etc.
- Start modeling Social Security scenarios. When you claim matters, and the difference could be six figures over time.
- Revisit estate planning. Wills, trusts, beneficiaries — you want your legacy to go where you intend.
Planning for Income Sources & Estate Details
Reminder: Retirement isn’t a cliff, it’s a transition. Start planning how you’ll spend your time, too.
5 Years Out: The Retirement Red Zone – Lock It In
It’s getting close! This is when the rubber meets the road. You’re fine-tuning the engine that’s going to carry you through retirement, and the margin for error shrinks. We call this the retirement red zone. The Retirement Red Zone is the critical 5-to-10-year period surrounding your retirement date—roughly the five years before and five years after you stop working.
Key Considerations: Build Income Plan & Stress-Test
- Build a retirement income plan. How much will you withdraw? From which accounts? In what order?
- Stress-test your plan. What happens if inflation spikes or the market dips? Work with your Trajan Wealth advisor to run scenarios.
- Reevaluate insurance needs. This may include long-term care coverage or supplemental Medicare policies.
- Plan for big-ticket retirement purchases. A new car? Home reno? Do it before you switch to fixed income.
- Consider partial retirement or consulting. Not everyone goes cold turkey — and easing into retirement can offer both financial and emotional benefits.
Coordinating Your Final Lap with a Fiduciary Advisor
Reminder: This is your final lap. Now’s the time to coordinate with a fiduciary advisor who can help bring all the pieces together.
No Matter Where You Are — Time’s Still on Your Side
Every summer brings a new season of life and a chance to get a little more prepared for the one coming next.
Whether you’re 20 years away or 5 summers away from retirement, the most important thing you can do is start — or keep going.
Trajan Wealth is here to guide you every step of the way. Our fiduciary advisors will help you create a retirement plan that fits your timeline, your goals, and your lifestyle.
Ready to Plan? Schedule Your Complimentary Consultation Today
Schedule your complimentary consultation with Trajan Wealth today.
Because you’re one summer closer… and that’s a reason to plan, not panic.
