1. Take Care of Your Debts
Retiring with no debts should be one of your main goals. Even if you have good savings and the mortgage has been paid off, you still need to take care of credit-card debt and any other pending payments before you retire. This is necessary even if you take a part-time job after retirement, as you want to work to pay for your hobbies or supplement your savings, not to cover past debts.
2. Get Your Goals Down on Paper
Knowing where you're going and how to get there will make retirement much easier on you, both financially and mentally. If you haven't thought about retirement carefully, you need to sit down and evaluate your income and how it will affect your retirement years. If you still have some years ahead of you before retirement, plan in steps, so you can work towards your final goal without having to stress too much in the process.
3. Determine How Much Money You Need
The Social Security benefit calculator (http://www.ssa.gov/planners/calculators.htm) offers you three different tools to help you calculate how much money you are set to receive in benefits once you retire and then help you plan your retirement accordingly. As a general rule, you should aim for at least 70 percent of your present income to preserve the same style and level of living you have now. If you have plans to travel or pursue other expensive endeavors after retirement, you should increase that percentage accordingly.
4. Check Your Financial Stats
Do you know what your employer's retirement plan covers? What about the state of your IRA and your Social Security benefits list? Making sure your finances are in working order will smooth out the path to retirement immensely. If you're married, you should also discuss your partner's financial stats since they will affect your common future.
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