Preparing for Retirement Checklist

Know Your Retirement Needs — Retirement is expensive. Experts estimate that you’ll need 70% of your pre-retirement income to maintain your standard of living when you stop working.
Learn about and Contribute to Your Employer’s Pension or Profit-Sharing Plan — Most employers offer a 401 defined contribution or 457 deferred compensation plan. Visit your human resources department to find out about investing in your organization’s program.
Invest According to Your Needs — Make sure your asset allocations reflect your age, goals and risk tolerance. “Catch-up provisions,” for example, could be a significant boon if you’re getting close to retirement age and just beginning to save.
Recognize the Value of Compounding — Start young. The earlier you start saving, the more time your money has to grow.