Retirement Planning: Guides for Saving, Social Security and Income

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.