What are the top things to be doing in your 40s when planning for retirement?
Answers | 2
In general, you should be saving like crazy now, so that your money has longer to take advantage of compound growth. First, though, you should meet with someone who can help you quantify how much you will need to save in order to live the kind of retirement you envision. You also need to plan for advanced medical costs. The average 65-year-old couple will spend $500,000 on medical expenses during the rest of their lives. You also want to make sure you have paid off all of your non-mortgage debt.