Nearing Retirement

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With retirement coming into view, it's time to get your financial planning into high gear and make any needed adjustments to ensure a smooth transition.

Your action plan

Sharpen the focus on retirement goals

It's time to revisit your retirement plan and see where you stand. If you're off track, take action to get back on it, whether it's stricter budgeting, contributing more to savings or both. Catch-up contributions can help boost your retirement savings because they allow you to contribute an additional $6,000 to your 401(k) in 2017 and an additional $1,000 in 2017 to your traditional or Roth IRA.

Learn more: Catch-up contributions

Go in-depth: Sharpen your focus

Changing jobs? Consider your choices

A Merrill Edge® Rollover IRA offers an easy way to maintain the tax-deferred status of your retirement plan while consolidating your retirement assets into one easy-to-manage account. Consider all of your choices and learn if a rollover IRA may be right for you.1

Read: Job-changer's checklist

Adjust your asset allocation to your changing circumstances

As your investment time frame and goals change, so might your asset allocation. Many financial experts suggest reevaluating your asset allocation periodically or whenever you experience a milestone in your life, like marriage or the birth of a child.2

Watch: Rebalancing your asset

Go in-depth: Revisit your asset allocation

Develop a Social Security and retirement date strategy

Although Social Security will make up just a portion of your retirement income, it's an important part of your overall retirement strategy. Give careful consideration to when it's most advantageous to take your benefit.3

Go in-depth: Develop your strategies

Read: Q&A: When Should You Being Drawing Social Security

Start planning for your retirement needs

There are many financial considerations to think about besides your basic living expenses. A little planning will go a long way, whether you're debating about downsizing, considering part-time work or looking at ways to manage healthcare costs.4

Read: 7 steps to prepare for your upcoming retirement

Learn more: Plan now for health care costs

Go in-depth: Preparing financially when you're getting close to retirement

Find the right IRA

Which is the best fit for you, Traditional or Roth?

Our Perspectives

Get insights from Merrill Lynch to help you plan and invest for retirement.

Changing jobs?

It's easier to manage your assets when they're in one place. Consider consolidating your retirement accounts.1
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1 You have choices for what to do with your employer sponsored retirement plan. Depending on your financial circumstances, needs and goals, you may choose to roll over to an IRA or convert to a Roth, roll over to an employer sponsored plan from a prior employer to an employer sponsored plan at your new employer, take a distribution or leave the account where it is. Each choice may offer different investment options and services, fees and expenses, withdrawal options, required minimum distributions, tax treatment and provide different protection from creditors and legal judgments. These are complex choices and should be considered with care. Visit or call a Merrill Edge rollover specialist at 1.888.637.3343 for additional information about your choices.

2 Asset allocation, rebalancing, and diversification do not ensure a profit or protect against loss in declining markets.

3 This material should be regarded as general information on social security considerations and is not intended to provide specific social security advice. If you have questions regarding your particular situation, please contact your legal or tax advisor.

4 This material should be regarded as general information on healthcare considerations and is not intended to provide specific healthcare advice. If you have questions regarding your particular situation, please contact your legal or tax advisor.

Neither Merrill Lynch nor any of its affiliates or financial advisors provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.

A direct rollover occurs when you request that a rollover check be made payable directly to the new custodian for the benefit of your individual retirement account (IRA) or employer-sponsored retirement plan. A direct rollover is not subject to current tax or penalties.

An indirect rollover occurs when you request that a rollover check be made payable to you, after which you deposit the money into your IRA or another employer's retirement plan within 60 days. When such a distribution is made by the plan, the plan is required by law to withhold 20% of the taxable amount for prepayment of federal income taxes. If you wish to rollover the entire distribution, you must make up the 20% withholding out of your own funds, or you will be subject to income taxes and possibly early withdrawal penalties on the shortfall. If you fail to complete the rollover within 60 days, all or part of the money distributed to you will be taxable and a 10% additional tax for early withdrawals may apply.