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Retirement Planning: Guides for Saving, Social Security and Income

Plain-English retirement guides covering 401(k)s, IRAs, Social Security claiming, required minimum distributions and turning savings into income.

A retired man walking with his adult daughter on a tree-lined street in autumn

Retirement planning comes down to three questions: how much you need, how to get there and how to make the money last once your paycheck stops. Each one involves rules that change over time, including contribution limits, tax treatment, Social Security claiming ages and required minimum distributions.

The guides in this section walk through those rules using figures from the IRS, the Social Security Administration and other primary sources, with the year noted so you know how current each number is. You'll find explanations of 401(k) plans, traditional and Roth IRAs, catch-up contributions, early withdrawal penalties and their exceptions, and the trade-offs of claiming Social Security early or late.

We also cover the income side of retirement: withdrawal strategies, how annuities work and when they may or may not fit, and how Medicare and long-term care costs factor into a plan. Every person's situation is different, so treat these guides as a starting point for your own decisions or for a conversation with a qualified professional.

Guides in Retirement

A man in his late 50s sits at his kitchen table going through paperwork with his adult daughterSocial SecuritySSI vs. SSDI: What's the Difference and Can You Get Both?SSI vs. SSDI: one is based on your work record, the other on financial need. Compare eligibility, 2027 payment amounts, Medicare, Medicaid and applying.Read the guide →A retired couple at a kitchen table working through their household budget with a pencil, a notebook and a calculatorPlanning your retirement incomeSocial Security COLA 2027: What the 3.6% Increase Means for YouThe Social Security COLA for 2027 is 3.6%. See when the increase starts, the new average benefits, the 2027 wage base and the earnings test limits.Read the guide →A woman at a desk by the window in her home office, chin in hand, looking at her laptop beside a coffee mug and a paper folderChecking your progressHow Much Should I Have in My 401(k) by Age?How much should you have in your 401(k)? Set your own target from the income you'll need, then check it against Fed data and the 2026 IRS limits by age.Read the guide →A man in a sweater sits at a wooden desk at night, thinking as he looks at his laptop with a calculator and notepad beside himRetirement savingsBorrowing From Your 401(k): How 401(k) Loans Work and What They CostBorrowing from your 401(k)? IRS rules cap most loans at $50,000 or half your vested balance, with repayment in 5 years. Here's how it works and the risks.Read the guide →A teacher reading through a benefits packet at her desk in an empty classroom after schoolWorkplace plans401(k) vs. 403(b): What's the Difference?401(k) vs. 403(b): who offers each plan, how the investments differ, the shared 2026 limit of $24,500 and the 403(b)'s extra 15-year catch-up.Read the guide →An older woman in a living room armchair reading a letter carefully, a cordless phone on the table beside herFuneral costsDoes Social Security Pay for Funerals? What Social Security and the VA Pay Toward BurialSocial Security pays a one-time $255 lump-sum death payment, not funeral costs. Who can get it, how to apply, and what VA burial allowances add for veterans.Read the guide →A woman drinking coffee at her kitchen table while she reads a pay stub next to her laptopRetirement savingsHow Much Should You Contribute to Your 401(k)?How much should you contribute to your 401(k)? Start with the full employer match, then raise your rate over time toward the 2026 IRS limit of $24,500.Read the guide →A couple in their fifties reviewing retirement statements together on their back porch2026 numbersWhat Are the 401(k) and IRA Contribution Limits for 2026?The 2026 401(k) limit is $24,500 and the IRA limit is $7,500, with higher catch-up amounts for savers 50 and older. Here are the IRS figures.Read the guide →A woman in her sixties reading a letter at her kitchen windowSocial SecurityWhen Should You Start Claiming Social Security?Claiming Social Security at 62 cuts your benefit by up to 30%, while waiting past full retirement age adds 8% a year until 70. Here's how to weigh it.Read the guide →

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