It is never too early to start thinking and preparing for your retirement. Here are some things to consider about this very important time in your life.

• Review your finances. Knowing where you stand will help you focus on where you are headed. If you are in debt up to your elbows, then obviously you are not prepared to retire. Right now, set a personal budget and include some amount for retirement. To keep the same standard of living after retirement, then you will need between 70% and 90% of your current income.
  
• Review your current needs and goals. Knowing what you plan to do can give you some idea of what you will need in terms of money and health. So whether you plan to travel or stay home with the grandkids, start planning now.
  
• Develop a healthy lifestyle. This is the perfect time to quit smoking and start exercising. Losing a few pounds can help many aging folks stay healthier and keep fitter.
  
• Talk to your employer about your retirement plan now. Check to see what you can contribute and if your employer provides matching funds, you’ll want to take advantage of that.
  
• Discuss various retirement possibilities with your spouse. Understand each other’s plans and make sure that you have all appropriate legal papers signed.
  
• Review your benefits and social security statement. If you have any questions, call to have them explained now instead of later.
  
• Open an IRA. You can check with your bank to see if you are eligible to open an IRA and get help with the process.
  
• Think of how you want to spend your time. After retirement, you may want to take another job, volunteer, travel, or hobby.

These tips on getting prepared won’t guarantee that you’ll be ready for retirement, but give you some suggestions on making it easier. Many great successes in life found their true calling after age 60! Retirement could indeed be one of the best and most productive phases of your life.