Savings for Retirement Timeline by Charles Schwab

Resist the temptation to cut back on savings for retirement, regardless of what's going on elsewhere in your life
Put bonuses and raises into your savings for retirement.

Thirties: Track Spending

Make savings for retirement a priority. Or course, this priority will be met with competing goals, such as a house or your children's college education. But remember: Loans are available for homebuyers and for Johnny’s college ride, but there are no loans or financial aid options to help pay for retirement
Track your spending. That way you'll find ways to cut back on expenses and enhance savings for retirement
Continue to put bonuses and raises into your retirement savings

Contribute the maximum-allowed amount to your 401 k or other employer retirement plan according to 401 k rules
After you contribute the maximum to your 401 k, consider the benefits of contributing to a traditional or Roth IRA. Put bonuses and raises into your savings for retirement

Take advantage of "catch-up" contributions to your retirement accounts. Pension and 401 k rules allow these catch-ups after age 50
Consider retiring later or working part-time in retirement to help increase your income
Become a more conservative investor than before. Consider decreasing your proportion of stocks to help reduce the impact of market volatility on your portfolio

Subtopics: Introduction • Retirement Planning • Mistakes • Lessons • Savings for Retirement • 15 Tasks • Tips from the Chicago Herald Tribune • Americans in Their 60s • Charles Schwab Timeline • Do This at Age 25 • Do This at 45 • Do This at 65 • AARP Retirement Calculator • Retirement Planning Quiz • The Answers • The Benny Award