Retirement Countdown: What to Focus On 15, 10, and 5 Years Before You Retire

Retirement isn’t a single date on the calendar — it’s a transition you prepare for over time. The choices you make in the years leading up to it will shape how smooth (and enjoyable) your retirement feels.

Here’s a timeline of what to prioritize 15, 10, and 5 years out so you can step into retirement with clarity and confidence.

15 Years Out: Lay the Foundation

Fifteen years may feel far away, but this is when the groundwork really matters.

• Maximize contributions. Start putting as much as you reasonably can into retirement accounts like a 401(k) or IRA. With compounding, these years are powerful.

• Check your asset allocation. Make sure your portfolio is balanced for growth without being overexposed to risk.

• Pay attention to debt. Work on paying down large debts (mortgage, loans) so they don’t follow you into retirement.

• Define your vision. Start talking about what retirement means for you — travel, part-time work, family time, volunteering. Your goals shape the plan.

10 Years Out: Sharpen the Picture

This is when retirement starts to feel real. Ten years out, it’s time to get serious about details.

• Estimate retirement expenses. How much will you realistically need for housing, healthcare, travel, and lifestyle?

• Run a retirement income projection. Compare your savings, Social Security estimates, and pensions (if any) against your projected expenses.

• Evaluate taxes. Think about how tax-efficient your savings vehicles are — Roth vs. Traditional IRAs, taxable accounts, etc. A smart tax strategy can add years to your savings.

• Consider long-term care. Insurance or other funding strategies should be evaluated now while premiums are lower.

• Revisit your plan annually. Life changes — promotions, inheritances, health events — all affect retirement readiness.

5 Years Out: Final Preparations

Five years out, the countdown is on. Now is the time to stress-test your plan.

• Dial down investment risk. Protect what you’ve built. Growth is still important, but preserving capital is critical.

• Practice your retirement budget. Try living on the income you expect to have in retirement for a few months. See if it feels realistic.

• Plan for healthcare. Bridge the gap until Medicare starts at 65, and factor in supplemental coverage.

• Decide on Social Security timing. Will you take it early, wait until full retirement age, or delay for maximum benefits?

• Get your estate plan in order. Wills, trusts, healthcare directives, and beneficiary designations should be reviewed and updated.

• Line up a retirement date. Pick a target, even if it’s flexible, to help you prioritize decisions.

The Bottom Line

Retirement isn’t just about saving money — it’s about building confidence that your lifestyle, health, and legacy are secure. By tackling the right priorities 15, 10, and 5 years out, you’ll arrive at retirement ready not just to stop working, but to start living the next chapter on your terms.