What Should You Do at Every Age? A Retirement Planning Checklist by Decade

What Should You Focus on in Your 30s?

Priority 1: Emergency fund (3-6 months of expenses). Without this, any unexpected expense forces credit card debt or retirement account raids.

Priority 2: Capture employer 401(k) match — 100% guaranteed return. Even 3% contribution rate with match beats any investment.

Priority 3: Open and fund a Roth IRA ($7,000/year). At 30, the tax-free growth runway is 35+ years. $7,000/year from 30-65 at 7% = $1.1 million tax-free.

Priority 4: If income allows, max 401(k) contributions. Every dollar saved at 30 has the most compounding potential.

Bonus: Open an HSA if on a high-deductible plan. Start the triple-tax-advantage account early.

What Changes in Your 40s and 50s?

40s: - Max all tax-advantaged accounts (401k + IRA + HSA) - Review life insurance needs (peak family obligations) - Review disability insurance (often overlooked, highest-impact decade for disability) - Consider umbrella liability policy - Start college savings (529) if applicable — but not at the expense of retirement

50s: - Activate catch-up contributions ($7,500 extra in 401k, $1,000 extra in IRA) - Review your Social Security statement at ssa.gov/myaccount - Consider long-term care insurance (premiums lowest at 50-55) - Run your first Monte Carlo retirement analysis — 15 years out, adjustments are still highly effective - Update estate planning documents

What Is Critical in Your 60s and 70s?

60s: - Model Social Security claiming strategies for BOTH spouses - Open the Roth conversion window (between retirement and SS/RMDs) - Plan the pre-Medicare healthcare bridge - Consider pension lump sum vs. annuity decision - Finalize estate planning including beneficiary designations - Test retirement spending for 6-12 months before fully committing

70s: - Begin RMD planning and execution - Implement QCD strategy for charitable giving - Review Medicare plan annually during open enrollment - Consider downsizing if maintenance burden is increasing - Shift estate focus to legacy — Roth conversions benefit heirs - Annual beneficiary designation review (critical as family situations change)

Want to Run Your Age-Appropriate Analysis?

The analysis at myaifinancialplan.com adjusts its recommendations based on your current age, time horizon, and financial position — giving you the most relevant action items right now. Start free at myaifinancialplan.com.