5 Retirement Planning Strategies for Every Age Group in 2026

Retirement planning looks different depending on where you are in your career. Here’s expert advice tailored to your life stage.

For Millennials (Ages 29-44): Build the Foundation

1. Maximize Employer Match

If your employer offers a 401(k) match, contribute at least enough to capture the full match. This is essentially free money—a 100% return on your investment before the market even opens.

“The power of compound interest means that every dollar saved in your 30s is worth significantly more than a dollar saved in your 50s,” explains Marcus Johnson, retirement specialist at Vanguard.

2. Consider Roth Contributions

Given that you likely have decades before retirement, Roth accounts can be particularly valuable. You pay taxes on contributions now, but qualified withdrawals in retirement are tax-free.

For Gen X (Ages 45-60): Accelerate and Protect

3. Catch-Up Contributions

Once you turn 50, you can contribute an additional $7,500 to your 401(k) beyond the standard limit. Take full advantage of this provision.

“Many Gen Xers are entering their peak earning years,” notes financial planner Sarah Chen. “This is the time to significantly ramp up retirement savings.”

4. Diversify Your Tax Strategy

Having money in pre-tax, Roth, and taxable accounts gives you flexibility in retirement to manage your tax burden. Consider Roth conversions in years when your income is lower.

For Baby Boomers (Ages 61-79): Optimize and Transition

5. Create a Withdrawal Strategy

As retirement approaches or begins, focus on the order of withdrawals to minimize lifetime taxes. Generally, this means:

• First, use taxable accounts and any income sources
• Then, tap traditional retirement accounts
• Finally, preserve Roth accounts for last (they grow tax-free)

Universal Advice for 2026

Regardless of your age, here are principles that apply to everyone:

Emergency Fund First: Before aggressive retirement saving, ensure you have 3-6 months of expenses in easily accessible savings.

Healthcare Planning: Healthcare costs in retirement can be substantial. Consider Health Savings Accounts (HSAs) if you’re eligible—they offer triple tax benefits.

Reassess Risk Tolerance: The market volatility of recent years has reminded many investors of their true risk tolerance. Make sure your portfolio allocation reflects your actual comfort level, not just theoretical models.

The Bottom Line

The best retirement plan is one you’ll actually follow. Start where you are, do what you can, and increase your contributions whenever possible. Time in the market, combined with consistent contributions, remains the most reliable path to a secure retirement.