It's national Save for Retirement Week. The goal is to help get American's retirement plans back on track, and you don't have to be nearing it to start planning.
Most baby boomers and Gen Xer's are thinking about retirement, but there's even things millennials can do get ready. It's just a matter of knowing where you are in life and what your goals are.
Financial adviser Jennifer Landon said it's easy for people in their early 20's to put off thinking about retirement, but that's something people need to stop doing.
"In reality, the younger you are when you start saving, the better off you're going be," she said.
Saving and budgeting are the best things for millennials to start doing. Landon says pay attention to your budget, don't over expose yourself to debt and be careful with credit cards.
"Financial security is going to be based on good financial habits and so if you're consistently spending less than you're bringing in, then you're already on the right track," she said.
Other generations have to start thinking too.
"The very first Generation X people will start to retire the year social security runs out of money," Landon said.
She says not to worry: Gen Xer's just need to approach retirement a little differently than those before them.
For example take advantage of employer plans. The 401(k) has replaced the pension plan. If you don't have one available Landon recommends opening an IRA. Also, pay attention to your insurances. Think about rate changes, maybe you can get a better rate now than you could three years ago.
And we can't forget about the baby boomers.
"It's the most critical to them because they're the closest to retirement," Landon said.
Evaluate your expenses and debt: know exactly how much money you want and need to live the lifestyle you've been planning for retirement. Do an inventory: What accounts do you have, consider consolidating those. Also, pay attention to risk: make sure you have a plan if the market were to drop.
"You'd hate to have to extend your retirement another two or three years out because of things that were outside your control," she said.
No matter what generation you are part of, Landon said now is a good time to clean out the financial junk drawer. The more active you are in the management of your accounts, the better off you're going to be in the long run.