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At 55 With $150,000 Saved for Retirement? Here Are Targeted Steps to Strengthen Your Plan

Recent Fidelity averages show typical balances near $140,000, placing a $150,000 nest egg slightly above peers.

Overview

  • Working a few extra years can create more time to contribute and may allow you to delay claiming Social Security for higher monthly benefits.
  • Use age‑based catch‑up contributions in IRAs and 401(k)s, and consider HSA catch‑ups if you have an eligible account.
  • If maxing out isn’t feasible, raise your savings rate and trim expenses to free cash for investing sooner.
  • Capture your full workplace 401(k) match in 2026 by increasing contributions so no employer money is left on the table.
  • Direct future pay increases into retirement automatically and choose investments designed to shoulder more of the long‑term growth work.