The Four Phases of Your Retirement Journey

The Four Phases of Your Retirement Journey Hilltop Wealth Solutions

Retirement is a multi-stage process. The duration and the financial approach to each stage will vary for each individual, making it an intricate subject. However, dissecting it into separate stages can help you understand and execute a smart retirement strategy. In this piece, we will explore every stage of retirement and highlight significant financial events within each phase.

Phase 1: Before Retirement (Approximately Ages 50-62)

When you get to be about 50, you can start to estimate your savings and potential expenses. At the age of 20, envisioning your retirement may seem like a far-fetched idea. Even in your 30s or 40s, retirement still feels distant. Life can still throw many unforeseen twists and turns, making it challenging to predict what resources you will have or require when you retire. However, once you hit your 50s, retirement expectations might start to get clearer. Crucial financial decisions beckon at this age. Deciding when to tap into social security becomes vital.[1] Additionally, it’s time to ponder whether you should make catch-up contributions to your retirement accounts.[1]

Phase 2: Starting Retirement (Approximately Ages 62-70)

This is the stage where your preparation begins to experience real-world application. You have transitioned from receiving a salary from employment to drawing from savings and potentially gaining passive income through investments. This is a pivotal moment in any retirement pathway, as it provides a taste of what retirement truly entails. You can begin to assess your needs and identify what alterations are required in your financial strategy to maximize your retirement benefits. This period also demands careful consideration of health insurance and Medicare choices.[1]

Phase 3: Mid-Retirement (Approximately Ages 70-80)

This stage also comes with a few key financial changes. There is no more benefit for delaying Social Security after 70.[1] The implementation of Required Minimum Distributions (RMDs) for various types of accounts commences during this period, mandating withdrawals from your retirement funds if you haven’t done so already.[1] Given that your health circumstances have probably significantly altered since you were 50, it’s crucial to reassess and modify your plan for healthcare costs as well.

Phase 4: Late Retirement (Ages 80+)

Long-term care options during this phase may be worth considering. Moreover, financial planning for your legacy and estate, such as deciding the allocation of your assets after you pass away, can be a significant financial milestone at this stage of retirement.


Each stage of your retirement journey necessitates unique abilities and approaches. Our financial professionals have collaborated with clientele at each point of their retirement, assisting in crafting plans suitable for any stage they might be in. We invite you to connect with one of our professionals for a financial assessment today.


Hilltop Wealth Solutions (“Hilltop”) is a registered investment advisor with the Securities and Exchange Commission (“SEC”) and only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. SEC registration does not imply a certain level of skill or training. Please refer to our Form ADV Part 2A disclosure and Client Relationship Summary (Form CRS) for additional information regarding the qualifications and business practices of Hilltop. Hilltop Wealth Solutions, LLC is an SEC Registered Investment Adviser firm. Hilltop Tax Solutions, LLC, is an affiliate of Hilltop. Wealth Solutions that provides tax and bookkeeping services.

Website Disclosures

Hilltop Wealth Solutions (“Company”) is an SEC registered investment adviser located in Mishawaka, IN with branch office located in MI and other locations throughout IN.  The Company may only transact business in those states in which it is registered or qualifies for an exemption or exclusion from registration requirements.  The Company’s web site is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links.  Accordingly, the publication of the Company’s web site on the Internet should not be construed by any consumer and/or prospective client as the Company’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.  Any subsequent, direct communication by the Company with a prospective client shall be conducted by a representative that is either registered or qualified for an exemption or exclusion from registration in the state where the prospective client resides.  For information pertaining to the registration status of the Company, please contact the SEC or the state securities regulators for those states in which the Company maintains a notice filing.  A copy of the Company’s current written disclosure statement discussing Company business operations, services, and fees is available by going online via the SEC’s Investment Advisers Public Disclosure (IAPD) database at, using SEC #801-115255.

The Company does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to the Company web site or incorporated herein and takes no responsibility, therefore.  All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.

Please remember that different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment or investment strategy (including those undertaken or recommended by the Company, will be profitable or equal any historical performance level(s).

Certain portions of Company web site (i.e. newsletters, articles, commentaries, etc.) may contain a discussion of, and/or provide access to, the Company (and those of other investment and noninvestment professionals) positions and/or recommendations as of a specific prior date.  Due to various factors, including changing market conditions, such discussion may no longer be reflective of current position(s) and/or recommendation(s).  Moreover, no client or prospective client should assume that any such discussion serves as the receipt of, or a substitute for, personalized advice from the Company, or from any other investment professional.

The Company is neither an attorney nor an accountant, and no portion of the web site content should be interpreted as legal, accounting or tax advice.

Rankings and/or recognition by unaffiliated rating services and/or publications should not be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if the Company is engaged, or continues to be engaged, to provide investment advisory services, nor should it be construed as a current or past endorsement of the Company by any of its clients.  Rankings published by magazines and others, generally base their selections exclusively on information prepared and/or submitted by the recognized adviser.  Rankings are generally limited to participating advisers.

To the extent that any client or prospective client utilizes any economic calculator or similar interactive device contained within or linked to the Company web site, the client and/or prospective client acknowledges and understands that the information resulting from the use of any such calculator/device, is not, and should not be construed, in any manner whatsoever, as the receipt of, or a substitute for, personalized individual advice from the Company, or from any other investment professional.

Each client and prospective client agrees, as a condition precedent to his/her/its access to the Company web site, to release and hold harmless the Company, its officers, directors, owners, employees and agents from any and all adverse consequences resulting from any of his/her/its actions and/or omissions which are independent of his/her/its receipt of personalized individual advice from the Company.

Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.