How to Set Retirement Goals for the New Year (and Stick to Them)

The start of a new year is a natural time to reflect, reset priorities, and plan for what’s ahead. When it comes to retirement planning, this moment is especially important if retirement is on the horizon. The financial decisions you make now can have a meaningful impact on your future lifestyle, income, and peace of mind.

For individuals and couples in Monmouth and Ocean County, New Jersey, setting clear retirement goals—and having a plan to follow through on them—can help turn uncertainty into confidence.

1. Define What Retirement Looks Like for You

Before focusing on numbers, take time to think about the lifestyle you want in retirement. Your goals should be based on how you envision spending your time, not just when you plan to stop working.

Consider questions such as:

• Do you plan to remain in Monmouth or Ocean County, or spend time elsewhere?

• What will your day-to-day lifestyle look like?

• Will travel, hobbies, or family support play a larger role?

• How might your expenses change over time?

Clarifying these goals helps ensure your retirement plan supports the life you want to live—not just the income you need.

2. Turn Retirement Savings Into a Clear Income Strategy

Many people approaching retirement focus heavily on how much they’ve saved, but less on how those savings will translate into reliable income. A strong retirement plan connects the two.

Key considerations include:

• How much income you’ll need each year in retirement

• When and how to claim Social Security

• Balancing guaranteed income with investment-based income

• Planning for longevity and inflation

A thoughtful income strategy helps ensure your savings are structured to support you throughout retirement, even during periods of market uncertainty.

3. Balance Growth and Protection as Retirement Approaches

As retirement gets closer, protecting what you’ve built becomes just as important as continuing to grow your assets. Market volatility can have a greater impact during this phase, making risk management essential.

This is an ideal time to:

• Review investment allocation and risk exposure

• Ensure diversification aligns with your timeline

• Identify strategies to help protect income during downturns

• Adjust your plan as goals and priorities evolve

A balanced approach can help you stay invested without taking on unnecessary risk.

4. Plan Ahead for Taxes and Healthcare Costs

Taxes and healthcare expenses are two of the most common concerns for those nearing retirement—and two areas where proactive planning can make a significant difference.

Important topics to address include:

• Tax-efficient withdrawal strategies

• Required Minimum Distributions (RMDs)

• Medicare and supplemental coverage planning

• Long-term care considerations

Planning ahead can help reduce surprises and preserve more of your retirement income over time.

5. Create Accountability to Stay on Track

Even the best retirement goals can fall by the wayside without accountability. Life changes, markets shift, and priorities evolve—but your plan should evolve with them.

Working with a retirement planning professional serving Monmouth and Ocean County provides ongoing guidance, regular reviews, and strategic adjustments to help keep your retirement plan aligned with your goals year after year.

Make This the Year Your Retirement Plan Comes Together

Setting retirement goals is an important first step, but sticking to them requires clarity, structure, and expert guidance. With a personalized retirement strategy in place, you can move forward with confidence knowing your plan is designed to support your lifestyle, manage risk, and adapt to change.

If you’re seeking financial retirement planning in Monmouth or Ocean County, NJ, our team is here to help you create a plan that reflects your goals and prepares you for the years ahead.

Schedule a consultation today or attend a free upcoming social security seminar and take the next step toward a confident retirement.