11 Money Moves to Make in the Decade Before You Retire

Pre-retirement steps include reviewing what you expect to pay in taxes and how you will cover health care costs once you stop working.

(Image credit: Getty Images)

For most people, retirement seems like a faraway dream, something that will happen “one day.”

That faraway dream becomes a lot more real and far more serious the decade before you retire.

“It really is the most important decade for planning,” says Steve Parrish, co-director of the Center for Retirement Income at the American College of Financial Services. “It’s your last chance to get your affairs in order and make sure you have everything set up for a comfortable retirement.”

Americans overall feel pretty good about their future prospects. A 2019 Gallup survey found that 55% of Americans 55 or older are confident they will have enough money for a comfortable retirement, the highest level since 2008, and a post-COVID survey showed their outlook remains mostly intact.

Still, it’s one thing to believe you’ll have a secure retirement and another to make sure it actually happens. These 11 smart money moves to be made the decade before you retire can put you on the right path so that your faraway dream becomes a not-too-distant reality.

David Rodeck
Contributing Writer, Kiplinger's Retirement Report