Retirement Retirement Planning

8 Financial New Year's Resolutions That Could Get You Retired by 2030

Smart moves in the next couple of years could help you retire by 2030.

By Sarah Sharkey

Edited by Calista Headrick

Updated Jan. 1, 2026

Planning for retirement can feel like landing a plane. After working for decades, you might be ready to leave the working world behind. If you are ready to jump into retirement by 2030, the right money moves could help you set up a stress-free retirement.

Here are some of the top financial resolutions to make this New Year if you want to retire in the near future.

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Run a 30-minute retirement reality check

Before you can jump into retirement, you'll need to build a financial plan. That starts by carefully evaluating your financial situation, even for just 30 minutes. Take some time to gather a clear picture of your finances by tallying up savings, debts, investments, and any streams of income you expect in retirement.

Beyond considering your resources, take a look at your spending plans. Nailing down how much you'd like to spend in retirement can help you determine whether or not your current retirement savings and assets will be enough to support the lifestyle you have in mind. If not, you'll have a better idea of how much you'd like to save between now and your golden years.

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Calculate your Social Security benefits

Beyond your retirement nest egg, it's important to consider your Social Security options. While many assume their Social Security will be enough to support all retirement expenses, it's usually not enough on its own. With that, it's important to calculate how much you can expect to receive from Social Security before jumping into retirement. You can use the Social Security Administration's quick check calculator to estimate your future benefits.

In addition to the amount you can expect monthly, think about the possibility of taking your benefits later to boost your monthly check. If you claim Social Security at 62 instead of 67, for example, your monthly benefit can be reduced by up to 30%. Taking your benefits later will increase your monthly income in retirement, but delaying doesn't make sense for everyone. You could even use the SSA's calculator to compare your benefit at 62, 67, and 70.

Increase your 401(k) contributions by 1%-2%

If you're behind on retirement savings, you aren't alone. Luckily, it's not too late to make significant strides toward building a retirement nest egg. Make saving for retirement a priority this year, even if it means cutting back on discretionary expenses.

When possible, automate your savings to pour directly into a retirement account, like a 401(k) or IRA, to make the most of your funds.

This year, try to increase your contributions by 1% to 2%. While this might not sound like too much, it can add up quickly. For example, let's say you were previously contributing $8,000 per year to your 401(k). Increasing your contribution by 2% would lead to tucking away $8,160 per year. Investing that amount annually for five years at an average 8% return could grow to nearly $48,000.

Get a protection plan on all your appliances

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Increase your debt payments by $100 to $200

If you have high-interest debt, paying that off can help free up some wiggle room in your budget. Even putting $100 or $200 toward your debt each month could shave years off your loan term.

For example, if you have a 30-year, $400,000 mortgage with a 6% interest rate, putting an extra $200 toward the mortgage would help you pay it off about four to five years earlier.

Tackle your debts one at a time, working from the smallest balance to the largest. Once you've paid off your debt, redirect that newfound cash flow into building your retirement nest egg. At the very least, paying off debt can help to lower your expenses, which might put retirement within reach.

Get quotes on long-term care insurance

Long-term care costs can add up quickly. While most don't expect to need long-term care, the reality is that many seniors do rely on extra help through long-term care facilities in retirement. According to the Office of the Assistant Secretary for Planning and Evaluation, 70% of adults who survive to age 65 will need long-term care at some point.

Instead of waiting for this expense to potentially decimate your retirement savings, look into, and consider buying, long-term care insurance before sailing into your golden years. Shop around to find the most affordable option for your situation.

But, on average, a 60-year-old man will pay around $1,200 per year for $165,000 in long-term care coverage. That number is $1,960 for women. Finding a way to cover this cost could help you better prepare for your retirement years.

Generate $500 monthly through an extra stream of income

A little bit of extra income can go a long way if you're worried that your nest egg won't be enough in the near term. If you are behind on your retirement savings, consider finding a way to generate extra cash to put toward your financial goals.

Some popular side hustles include delivering food and dog walking. Try selling crafts on Etsy or picking up pet-sitting gigs through Rover. And don't be afraid to get creative. For example, you might sell your artwork or build the side business you've always dreamed of. Using the extra money to make headway on your retirement savings goals is a good place to start.

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Shift risk gradually over the next 3-5 years

As you barrel toward retirement, it's a good idea to review your investment portfolio. Many retirees and pre-retirees choose to reduce their risk exposure in retirement. Generally, this means shifting your portfolio slowly from more volatile stocks into bonds or dividend-paying funds.

Readjusting your portfolio to reflect your current risk tolerance can help you protect your nest egg from swings in the stock market. For example, you might switch your portfolio from a more aggressive 80/20 stock-to-bond ratio to a more conservative 60/40 stock-to-bond ratio to improve stability.

Ask a financial advisor to review your plan

Building out a financial plan that will get you to retirement and beyond can be overwhelming. That's completely understandable. Luckily, it's possible to get some guidance about your specific situation by working with a financial advisor.

Consider talking through your plan and goals with a trusted financial advisor to help you make any necessary tweaks to your retirement plan.

Bottom line

According to a FinanceBuzz study, 63% said they aren't currently saving as much for retirement as they would like to. If you are planning for retirement, reaching the finish line by 2030 might sound like a dream come true, and depending on your financial situation, that might be possible. But it will likely involve a careful look at the numbers and tweaking of your finances to make retirement a reality in the near future.

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