# 5 moves to make 5 years before retirement

> Nearly half of older Americans have no retirement savings, but there's still time to prepare if you act now.
- Title: 5 moves to make 5 years before retirement · Yahoo Finance
- Summary: Nearly half of older Americans have no retirement savings, but there's still time to prepare if you act now. Maximize catch-up contributions to…
- Keywords: retirement planning, 401k, roth ira, social security, secure 2.0 act, catch-up contributions, tax planning, withdrawal strategy, retirement savings, financial planning, required minimum distributions, roth conversions
- Source: Yahoo Finance — https://finance.yahoo.com/markets/articles/5-years-retirement-5-things-100500756.html
- Published: 2026-09-16T10:05:00+00:00
- Read time: 1 min
- Topics: retirement planning, 401k, roth ira, social security, secure 2.0 act, catch-up contributions, tax planning, withdrawal strategy, retirement savings, financial planning, required minimum distributions, roth conversions
## The retirement readiness gap
43% of Americans aged 55 to 64 have zero retirement assets. Less than 10% have saved more than $1 million.
## You still have time
At this age, you're likely at peak earnings, your kids are grown, and your mortgage may be nearly paid off.
## Max out your 401k contributions
If you're 50 to 59, you can contribute $32,500 total to your 401(k) in 2026. Ages 60 to 63 can contribute $35,750.
## The super catch-up provision
Thanks to the SECURE 2.0 Act, people aged 60 to 63 can add an extra $11,250 in catch-up contributions.
## New Roth requirement for high earners
If you made over $150,000 in 2025, all catch-up contributions must now go into a Roth 401(k), not traditional.
## Don't forget about IRAs
For 2026, people 50 and over can contribute $8,600 total to a Roth or traditional IRA.
## Plan your withdrawal strategy now
Delaying Social Security increases monthly benefits. You can also sell taxable assets or convert 401(k) funds to Roth for tax advantages.
## Prepare for market downturns
If the market drops 10% your first year and you withdraw 4%, your portfolio shrinks 14%, hurting long-term withdrawals.
## Balance your account types
Spread savings across taxable, tax-deferred, and Roth accounts. Consider Roth conversions now for tax-free withdrawals later.
## Plan for required withdrawals
Required minimum distributions from traditional 401(k)s kick in at 73, or 75 if you were born in or after 1960.
## Test your retirement lifestyle
Take a short break to see how you spend leisure time. Build travel, side gigs, or hobbies into your annual budget.
## Key takeaway

Maximize catch-up contributions to tax-advantaged accounts and create a detailed withdrawal strategy before you retire.