Retirement Catch-Up Strategy

Build an accelerated savings and investment strategy for those starting retirement planning later — focusing on what actually moves the needle after 40.

24 action items~20 min to complete4 sections

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🔍 Assess Your Starting Point Honestly 🚀 Maximize Every Available Contribution 💰 Redirect Income Aggressively 📊 Adjust Strategy for Compressed Timeline

Overall progress0 of 19 items

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Assess Your Starting Point Honestly

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Calculate your current retirement savings across all accountsKey

Compare to age-based benchmarks

Calculate your retirement gap — the difference between what you have and what you needKey

Determine your realistic working years remainingAction

Assess Social Security benefit at multiple claiming agesKey

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$30,500

Maximum 401(k) contribution for age 50+ in 2024 (including catch-up)

76%

Increase in monthly Social Security benefit from claiming at 62 vs. 70

🚀

Maximize Every Available Contribution

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Contribute the catch-up maximum to your 401(k): $30,500 in 2024 (age 50+)Key

Max out IRA catch-up contributions: $8,000 in 2024 (age 50+)

Maximize HSA contributions if enrolled in a high-deductible health plan

Investigate whether your employer offers a 457(b) or 403(b) plan in addition to a 401(k)Action

Open and fund a taxable brokerage account if all tax-advantaged space is maxed

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Redirect Income Aggressively

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Redirect mortgage payoff funds to retirement savings once home is paid offKey

Redirect college savings contributions once children graduate

Apply every raise, bonus, and windfall directly to retirement accountsAction

Consider delaying large discretionary expenses (renovation, travel) by 3–5 yearsWatch out

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Adjust Strategy for Compressed Timeline

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Maintain growth-oriented allocation longer than conventional advice suggests

Consider working 2–3 years longer than originally plannedKey

Model part-time or consulting work in early retirement as a bridge strategy

Review healthcare cost projections carefully if retiring before Medicare eligibility (65)Watch out

Work with a fee-only financial planner to model realistic scenariosAction