Retirement sneaks up on people. One day, work feels endless. The next, you’re staring at the last decade and wondering if you missed something. That stretch of time carries weight because every choice matters more. Savings grow or shrink faster. Plans feel real rather than abstract. The finish line starts to shape your priorities.
Many people try to fix everything at once. That never helps. The key is steady action. Small moves compound. Clear decisions reduce stress. Simple habits create a softer landing. Think of the coming years as a tune-up rather than a scramble. You can still adjust your direction without tearing apart your entire life.
These are the 6 money moves to make in the decade before retirement. They’re practical, sometimes uncomfortable, and surprisingly effective. And they work for people who want more calm than chaos in their final working years.
Consider your expenses
It’s easy to underestimate spending because habits blur together. Bills blend into routines. Subscriptions hide in plain sight. The decade before retirement demands a sharper view. You need to understand what stays, what changes, and what might vanish.
Introduce this part like a reset. Expenses during retirement rarely look identical to your current ones. Work lunches end. Commutes disappear. New interests take their place. Some people travel more. Others spend more time at home. Medical costs might shift. It all depends on your lifestyle.
Start with the basics. Look at where your money goes today. Challenge your assumptions. Ask yourself if each category still fits your future life. This step helps uncover leaks you didn’t notice. Some costs linger even when they stop serving you. Others expand, so ignoring them only hurts later.
The goal isn’t to slash everything. It’s to understand the reality of your spending. When you know your patterns, you can shape a retirement budget that actually supports your daily life rather than forcing constant adjustments. Clarity builds confidence. Confidence makes planning easier.
Tackle any debt
Debt feels heavier when retirement gets close because income becomes more fragile. You won’t have the same flexibility later. Interest costs take bigger bites. Payments feel more permanent. And mentally, debt steals peace.
Introduce this move with a simple truth. Every dollar you owe in retirement has more impact than it does today. You can still pay it, but it limits choices. It also reduces how far your savings stretch.
Some people focus on the highest interest accounts. Others take out smaller balances first because progress energizes them. Either method works when you stick with it. The key is momentum. Even one consistent payment strategy can shift your entire financial outlook.
There’s also emotional relief. People talk about that moment when a lingering balance finally disappears. They describe it as a weight leaving their shoulders. Entering retirement with lighter obligations means more room to enjoy the years ahead. Less debt equals more freedom. And freedom is a priceless retirement ingredient.
Get smart about tax efficiency
Taxes don’t retire when you do. They follow you into your new life. Your accounts, withdrawals, and benefits all carry rules that affect how much money you actually keep. Many people focus on growing savings, but few consider how taxes shrink them.
Introduce this section with a reminder that timing affects everything. Withdrawals from different accounts come with different outcomes. Some accounts grow tax-deferred. Others grow tax-free. Pulling money too early or in the wrong order may increase your tax bill.
Knowing the rules helps you avoid painful surprises. You might adjust your contributions. You might shift where you save. You might rethink your withdrawal strategy. Each small adjustment protects more of your money.
Social Security also fits into this puzzle. The timing of withdrawals affects your tax bracket. Some people unintentionally trigger higher taxes by mixing withdrawals and benefits. Planning early helps you avoid these issues.
A tax-efficient plan may sound complex, yet it usually boils down to making smart decisions with guidance. You deserve to keep as much as possible of the money you worked hard to earn.
Revisit your investment strategy
Your investments need a checkup as retirement approaches. That doesn’t mean fear should control your choices. It means you need a strategy that matches your new timeline. What worked at 35 may not suit you at 60.
Introduce this move by acknowledging how people change. Risk tolerance shifts. A volatile market feels different when retirement sits ten years away rather than thirty. Your portfolio should reflect that new reality. Not to eliminate growth, but to balance it.
Growth still matters because retirement can last decades. Yet sudden drops matter too. Your savings must support you, so your investment mix should blend stability with opportunity.
This is also the time to examine diversification. If one part of your portfolio dominates, a market swing could hurt more than you expect. A balanced approach helps soften those shocks.
Devote a moment to reviewing your goals. Maybe you plan to work part-time. Maybe you want early retirement. Maybe your savings grew faster than expected. Your investment strategy should match your lifestyle, not someone else’s model.
A thoughtful review helps you avoid future panic. It allows your retirement to feel like something you steer rather than something that happens to you.
Explore your insurance options
Insurance becomes a bigger deal as retirement approaches. Health costs rise. Unexpected events become more common. A single issue can damage even strong savings. That’s why reviewing insurance now can save you trouble later.
Introduce this part by considering change. Many people shift from employer coverage to other options. Medicare helps, but it doesn’t cover everything. Supplemental plans exist for those gaps.
Long-term care deserves attention too. The cost of assistance can escalate quickly. Some people never need it, but those who do face significant bills. Looking into coverage earlier often results in better pricing and more options.
Life insurance needs may also change. A policy that made sense years ago might not serve the same purpose now. Your priorities shift as children grow older or debts decrease. This decade is the perfect time to reassess what you actually need.
Insurance should reduce stress rather than increase it. Understanding your options puts you in control. Retirement feels more stable when you know you’re protected against surprises.
Review your income sources
Retirement income doesn’t always come from one place. Savings, pensions, Social Security, investments, and part-time work may all play a role. Knowing how these pieces work together helps create a more predictable plan.
Introduce this idea with some honesty. People often guess their retirement income rather than calculate it. Guessing creates anxiety. Clarity provides comfort.
This is the one section where a personal human note fits naturally. Many people say the moment they list their income sources and see the actual numbers, their stress drops. The fear comes from not knowing, not from the numbers themselves.
Social Security requires special attention. The age you claim affects your monthly benefit. Claim early and get smaller payments. Delay and increase your payout. Each choice influences your long-term plan. Think about your health, preferences, and future obligations.
Mapping your income timeline helps avoid gaps. It helps you understand when each source begins. That understanding supports better planning and smoother transitions.
Income planning is not glamorous, but it creates stability, and stability allows for enjoyable retirement years.
Conclusion
The final decade before retirement carries more influence than most people expect. Every move counts. These 6 money moves to make in the decade before retirement give you a strong starting point. You evaluate expenses. You remove debt. You manage taxes wisely. You reshape investments. You adjust insurance. You understand your income. Each step strengthens the next one.
Retirement shouldn’t feel like a leap into mystery. It should feel like a chapter you prepared for with intention. Ask yourself which move you should work on first. One small choice today can reshape the next twenty years.
