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Individual Retirement Planning

Check Your Progress

The only way to know whether your retirement plan is working is to check your retirement savings progress early and often. But saving for retirement is just part of the big picture. Many life events and financial considerations affect decisions during each stage of your life and each phase of your retirement planning timeline. Here are common financial/retirement planning considerations for most people during the saving phase:

During your 20s:

Job benefits, especially the retirement plan
Retirement savings, including taking advantage of employer matching, if available
Traditional IRA or Roth IRA, especially if your employer doesn't offer a retirement plan
Life insurance
Credit rating
Life changes, such as getting married, buying a house or starting a family

During your 30s:

Retirement savings, including maximizing your savings by taking advantage of employer matching if it's available
Rollover IRA or traditional IRA, depending on employment status and retirement program availability
College savings accounts if you have children
Distribution options for your retirement account if you change jobs, whether it's a rollover, cash or combination of the two, and potential tax consequences
Consequences of taking early withdrawals from retirement savings
Legal documents, including wills, living wills, estate plans and durable power of attorney

During your 40s:

Retirement plans and retirement savings goals review
Retirement savings adequacy
College savings, including deciding if grants or scholarships will be needed
Aging parents' health care and long-term care insurance needs

Ongoing:

Complete, accessible financial information, especially beneficiary designations
Net worth
Retirement plan re-evaluation
Employer-sponsored retirement account consolidation
Debt amount
Credit rating
Sufficient savings for emergencies
Life-altering events, such as disability
Personal medical history and status
Local, state or federal tax law changes

Early Withdrawal Options

Preserving Your Retirement Savings: Keep Your Balance

This information is not intended as tax advice. Investors should consult a tax advisor.

Next steps

The most critical steps you can to make sure your retirement plan stays on track are:

Make it on ongoing, hands-on priority at each phase of the timeline.
Use your financial advisor as a resource to plan effectively.

These calculators will help you check your progress:

NOT FDIC INSURED

MAY LOSE VALUE

NO BANK GUARANTEE

Before investing, investors should carefully read the prospectus and/or summary prospectus and carefully consider the investment objectives, risks, charges and expenses. For this and more complete information about the fund(s), investors should ask their advisers for a prospectus/summary prospectus.

All data provided by Invesco unless otherwise noted.

Invesco Distributors, Inc. is the US distributor for Invesco Ltd.'s retail products. It is a wholly owned, indirect subsidiary of Invesco Ltd.

Invesco Distributors, Inc.