Wed Mar 05 2025, by Tyler Gardner

3 Essential Financial Moves for a Secure Retirement in Your 60s

If you're in your 50s, here are the only three financial moves you need to make to be ready for retirement in your 60s. I'm Tyler, a former financial advisor and portfolio manager, and I create financial content for free to help you better understand your financial options.

1. Plan Your Social Security Strategy

Know exactly when and why you're taking Social Security. Personally, I plan to take mine at 62, as I prefer not to wait for my break-even point, which falls between ages 77 and 81.

2. Understand Your Annual Expenses

Identify your annual expenses and then multiply that number by 1.5. Retirement isn't just about covering known costs; it’s about ensuring you have a sufficient margin for error to account for any unforeseen expenses.

3. Simplify Your Investment Portfolio

Simplify your portfolio by categorizing your assets as either risk-on or risk-off. For risk-on, consider using an S&P 500 index fund, while for risk-off, a money market fund may be appropriate. There’s no need for 20 different funds or products just to impress you—keep it straightforward.

And remember, if you own a primary residence, that's considered a real estate investment, so you’re already covered there. Focus on avoiding complexity and overthinking. Know your numbers and execute your retirement plan.

If you find any of this advice helpful, please like and follow, and I’ll continue to provide insights to help you get one step closer to your retirement goals.

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