Planning to Retire in the Next 3-5 Years? What to Consider Today

As you inch closer to retirement, here are three big-picture things you need to think through to be financially and emotionally prepared.

A woman looks off into the distance while standing on a beach with her dog.
(Image credit: Getty Images)

It may take decades over the course of a career to save for retirement, but there is a small and defined window of time leading up to one’s golden years that is exceptionally critical when it comes to planning. I often work with my clients three to five years ahead of their anticipated retirement to fine-tune their plan, reviewing everything from financial expectations, probable lifestyle changes or decisions, and often-overlooked non-financial considerations.

Having a map or outline defined in the years before retirement will ultimately provide financial and emotional comfort and stability for the future. Below is a roundup of significant elements to think through in the final years ahead of retirement:

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Julie Virta, CFP®, CFA, CTFA
Senior Financial Adviser, Vanguard

Julie Virta, CFP®, CFA, CTFA is a senior financial adviser with Vanguard Personal Advisor Services. She specializes in creating customized investment and financial planning solutions for her clients and is particularly well-versed on comprehensive wealth management and legacy planning for multi-generational families. A Boston College graduate, Virta has over 25 years of industry experience and is a member of the CFA Society of Philadelphia and Boston College Alumni Association.