Financial security in recruitment takes some advance planning, especially if you still have young children at home that will need your care for a few years yet. Preparing well in advance for your retirement can help you to better manage your money to make it last as long as possible and plan in case of illness or incapacity. Make these decisions now about how you want your retirement and finances managed to make things easier for your family later on too. 

1. Start saving as early as possible. The earlier you can manage to start making savings for your retirement years, the more you’ll be able to save. Even saving a small amount every month can be enough to get you started. Put aside something each month and stick to it. It’s never too early to start saving. If you start now, you can spread the cost of setting up a healthy retirement fund, but not have to go short when you do retire. 
2. Contribute to your employer’s pension plan. If your employer has a pension scheme, pay into it so they will make contributions too. You’ll pay less tax on your contributions, and over time, this can make a big difference to how much you’re able to save. Ask your HR department about any 401k plans they have that you may be able to join onto.  
3. Don’t touch your retirement savings unless it’s a real emergency. Once you’ve started saving, leave your savings alone and don’t be tempted to withdraw any of the money to use for something else, unless you really have no other choice. If you raid your retirement fund, you’ll have less to live on later on. You’ll only regret this later on. 
4. Take advantage of different kinds of retirement accounts. If you can, increase your retirement contributions up to the maximum allowed in your 401k, IRAs or other retirement plans. Try to get enough into your 401k to qualify for any matching contributions that your employer offers. The more you pay in, the more they’ll pay in, giving you more money for your retirement. If you’re over 50, you can set aside more money as a catch-up contribution. 
5. As you start to near retirement age, think about consolidating your accounts to simplify managing them. Combine any IRAs of the same type with one institution. Review 401ks you might have with former employers. Organizing your money into fewer places makes it easier to manage and keep track of how much you have and where. 
6. Downsize your debt. Boost your mortgage payments now if you can so that you’ve paid it off before you retire, giving you one less thing to worry about paying for in retirement. Avoid building up new debts on credit, and instead try to pay cash for any major purchases you make. Avoiding racking up new debt means your retirement income doesn’t need to be spent on interest payments and clearing debt. 
7. Set aside some funds for your future care and other costs that can’t be predicted accurately. If you’re worried about how your children will afford to look after you or pay for things when you’ve gone, set aside some funds for medical bills you might need in later life, funeral costs or nursing home bills. Some emergency funds for paying for unexpected health care emergencies or unexpected costs like moving to a new retirement home or needing a nursing home abuse attorney are also a good idea to have somewhere separate to your main retirement funds. 
8. Calculate your retirement income. Estimate what income you should be able to bring in through sources like Social Security, employer pensions, your own savings and investment accounts. To make your income last, it’s suggested that you aim to spend no more than 4% of your portfolio each year in retirement. 
9. Buy long-term health insurance to help you protect your retirement savings. You can use the insurance to cover the cost of medical expenses like home health aides. Take out a policy now for lower premiums and a better chance of being accepted. 
10. Think about where you will live. Where you retire to could have a big impact on your expenses. If you own a house in an expensive area, sell it and move to a smaller property in a low-tax area, making your living expenses much lower. If you want to stay in a higher cost area, to stay near family, build this into your financial plans so you can save enough to do this.