Retirement isn’t an age. It’s a number.
Whether you’re in your 30s or your 60s, your ability to retire comfortably hinges on one thing—how well you’ve planned and saved. The problem? Most people don’t realize how much they’ll need until it’s too late.
At WMBC Financial, we believe retirement planning should start early, evolve often, and be tailored to your goals – not just projections. Here’s how to build and boost your retirement savings at every stage of life.
Why Retirement Planning Still Matters
Even high-net-worth individuals can miss the mark if their wealth isn’t allocated correctly. Retirement isn’t just about having money. It’s about having the right money, in the right accounts, growing in the right way.
According to recent data, 63% of affluent investors list retirement as a top financial priority. That number is only growing.
Here’s what matters most:
- Tax-efficient growth
- Flexible withdrawal options
- Asset protection
- Longevity planning
Want to know if your retirement plan is really built for you? Take the Human Wealth™ assessment for a quick personalized assessment.
In Your 30s Maximize Momentum
This is the most powerful decade for compounding. The earlier you save, the less you’ll need to later.
What to focus on
- Max out employer 401(k) contributions—especially if matched
- Open and fund a Roth IRA for tax-free growth. (For a detailed explanation of Roth IRAs, see Investopedia’s Roth IRA guide.)
- Avoid lifestyle inflation as your income grows
- Build a habit of annual contribution increases
Why it matters
Saving $15,000 at age 30 could be worth over $100,000 by retirement—even with moderate growth.
In Your 40s Catch Up and Get Strategic
Your income is higher, but so are your expenses. This is the time to dial in your strategy.
What to focus on
- Rebalance investments based on risk tolerance
- Use catch-up contributions if over age 50 ($7,500 extra for 401(k)s in 2025)
- Start modeling your retirement number based on real goals
- Eliminate high-interest debt that competes with savings
Why it matters
These years often define your trajectory. It’s the difference between retiring early or working a decade longer than you planned.
In Your 50s Optimize and Protect
Retirement is no longer a theory – it’s on the horizon. Now is the time to stress-test everything.
What to focus on
- Maximize catch-up contributions
- Shift toward tax-efficient withdrawal planning
- Consider Roth conversions if you’re in a lower tax bracket
- Review healthcare and long-term care options
Why it matters
What you do in this decade could save—or cost—you hundreds of thousands in taxes and fees.
In Your 60s and Beyond Create Income and Preserve Wealth
This is important. You’ve built the assets. Now you need them to work for you.
What to focus on
- Create a drawdown plan that blends income, growth, and liquidity
- Optimize Social Security timing
- Review Required Minimum Distributions (RMDs) and tax impact
- Update estate plans to reflect legacy goals
Why it matters
A retirement income plan should last longer than you do. If it’s not designed with that in mind, you’re exposed to risk you didn’t plan for.
How WMBC Helps You Retire with Confidence
Most retirement plans focus on dollars and dates. Ours start with your life.
WMBC’s Human Wealth™ approach looks at:
- What kind of life you want to live in retirement
- What risks could compromise that future
- What strategies will get you there faster and safer
We blend decades of advisory experience with advanced modeling tools to craft retirement plans that aren’t just accurate—they’re meaningful.
About the Author
At WMBC Financial, David Coles combines his 15 years of experience with the power of Human Wealth™ to craft financial strategies that create lasting fulfillment and financial security. Learn more at https://wmbc.financial/.