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Many people hit their peak earning years in their 50s and early 60s. It's the right time to take these steps to help protect what's important and ensure you're staying focused on achieving your retirement saving goals.
Make sure you're funding your employer's retirement plan as well as your Individual Retirement Accounts (IRAs). Once you turn 50, you're allowed to contribute even more each year.
Think about how long you could live and how much income it could take to get you through retirement. This planning is especially important now because if there are income gaps that need to be addressed, it's easier while you're still working and have income.
Review your life insurance policies with your agent to make sure you've provided enough for your family in case the unexpected occurs and check that beneficiaries are up to date.
Neither State Farm® nor its agents provide tax or legal advice.