Retirement Checklist: 9 Things To Do Now in Your 60s, According to Fidelity

Core Insights - Fidelity emphasizes the importance of preparing financially for retirement, suggesting a structured approach to ensure stability during retirement years Group 1: Retirement Preparation - Individuals should assess their retirement income sources, spending needs, and identify any financial gaps before retiring [2] - Creating a retirement budget is essential to ensure that expenses will be adequately covered [2][3] - A guaranteed income plan should be developed to cover essential expenses, provide growth potential, and allow for flexibility [4] Group 2: Social Security and Debt Management - The optimal time to claim Social Security benefits should be determined based on personal circumstances, with benefits increasing the longer one waits to apply [5][6] - Paying off high-interest debt, particularly credit card debt, should be prioritized as part of retirement planning [6][7] - The average credit card debt for baby boomers is reported at $6,795, while Generation X averages $9,600 [7]