With 26 years of financial services industry experience helping people prepare for retirement, I can tell you this: it’s completely normal to feel overwhelmed. Today’s economy—higher interest rates, market uncertainty, rising healthcare costs—can make the decisions feel even heavier. Every generation faces challenges… but every generation also has opportunities. With a clear process, you can move from anxiety to more confidence. I can tell you this: your 50s and 60s are the most important — and can often be the most overwhelming — financial years of your life. You’re balancing retirement timelines, Social Security decisions, healthcare costs, aging parents, adult children, sometimes care of grandchildren, inheritance planning, and a market that never seems predictable.
The questions I typically hear are: “Do I have enough?”, “Will I be okay if something goes wrong?”, “Can I retire when I want to?”; and “How do I protect everything I’ve worked for?”
No matter the decade, people say: “Everything costs more”, “How can I save when things are so uncertain?”, or “It’s harder for us than it was before.”
Retirement planning isn’t just math — it’s designing a life you can picture clearly.
1. Get Clear on What You Want Your Future to Look Like
Before you run numbers, ask yourself where you want to live, how much you want to work, and what lifestyle feels comfortable. Retirement planning without a vision is like building a house without a blueprint.
2. Add Up What’s Coming In
List future income: Social Security, pensions, rental income, or part-time work. You’ve become an expert in your field and freelance consulting might keep you in the game, your brain active, and some spending money. Ballpark numbers are fine—clarity can reduce fear.
3. Add Up What Will Need to Go Out
Review your real expenses today. Identify which stay, which disappear, and which may grow. Seeing the truth is the turning point. i.e. a mortgage may still be with you for another decade but then be gone. The care of an aging parent may be on the horizon. An adult child
may no longer need your financial support. These ‘out’ numbers are crucial for seeing that you do or don’t run out.
4. Let Your Investments Work for You
Your portfolio should balance income, growth, and protection. You don’t have to choose just one. These can include stocks, mutual funds, ETFs, alternative investments, hedges, buffers, cash value life insurance, investment real estate.
5. Understand Your Big Decisions Before You Make Them
Pension lump sum or monthly income? Keep or roll over your 401(k)? Retire before 65? Tax impact? Pay off the mortgage? How much will medical insurance cost if I lose my coverage from my employer before age 65? These decisions can shape the next 30 years—don’t guess.
6. Build a Retirement Income Plan You Can Test-Drive
A clear plan shows what you can withdraw monthly, how to protect against inflation, when to take Social Security, and how to manage taxes. Seeing it on paper can brings more confidence.
7. Ask Yourself One Last Question
Do you want to make these decisions alone—or with someone who’s done it for decades? If you're unsure, that’s your signal to reach out.
You don’t have to figure this out by yourself. If you’re 50 - 60 something and want clarity—not confusion—call me. You need a plan that adjusts, protects you, and gives you more confidence — regardless of what the markets or economy are doing.
We’ll take it step by step, together, so you enter retirement with more clarity, security, and confidence.
Read more articles by Martin's Financial Consulting Group