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Preparing for Retirement: Lessons Learned and Steps Forward

November 6, 2025 I had several reasons for applying to Project Money, and one of the biggest was that I wanted to learn and prepare for retirement. Until recently—really within the last year—I hadn’t thought much about retirement because it felt so far away. Now that I’m only months away from turning 50, I realize how important it is to educate myself.A couple of weeks ago, I met with a Summit Financial Advisor, Jody, to discuss my current situation and how I can better plan for the future. The one thing I’m grateful I did early on was start a 403(b), the teaching version of a 401(k), when I first began my career 24 years ago.Jody did a great job explaining how and when I can access funds from my 403(b), my pension, and Social Security. She also showed me projections to help me understand how much additional saving and investing I may want to do to retire at the age I’m aiming for. It was eye-opening!One thing I wish I had known sooner was the value of opening a Roth account. That’s something I plan to share with my kids—it’s never too early to start, and even small contributions make a meaningful difference over time.Although I can’t change the past, I can take action now. I’ve already set up contributions to a Roth, and money should begin hitting the account with my next paycheck. Even though I’m currently prioritizing three other financial goals, I’m still able to invest something. As my budget opens up—or when I receive extra money, like a tax refund or my National Board stipend, I’ll contribute more so I can reach the annual maximum.Because those three goals are close to being accomplished, I’ll soon be able to shift focus. Retirement savings will move up on my priority list, and at that point, I plan to increase contributions to both my 403(b) and my general savings.Another step I’m taking is attending webinars and reading articles to deepen my understanding. I want to be prepared so I can make informed choices that help me reach my retirement goals.Have you thought about retirement? If not, I highly recommend setting aside even a small amount—$20 per paycheck is a great place to start. It might not seem like much, but even $40 a month can make a big difference over time! You might also be interested in From debt reduction to smarter saving, Project Money transformed my finances—discover the lessons that changed everything... Financial freedom means control, not wealth. I’m guiding my kids early—open talks, goals, IRAs, and celebrating wins... Kelli’s prepping for retirement at 50 by boosting savings, opening a Roth, and learning to invest smart... Kelli’s mindset shift = power: she’s tackling surprise costs with strategy, not stress. Financial freedom starts with intention and control... Kelli shares how intentional budgeting brings freedom—not restriction. Saying no today means saying yes to your bigger goals tomorrow... Kelli revamped her budget by prioritizing needs, goals, and learning—turning mindful spending into meaningful financial progress... Learning to live debt-free, Kelli pays cash for college, budgets tightly, and uses envelopes to stay focused on her financial goals... Kelli got a glimpse of financial ease this summer—budgeting stayed strong, stress eased, and small, consistent steps proved key to lasting financial confidence... Kelli shares how working with her coach helped her reset her budget, stay flexible, and prioritize saving—all while celebrating a debt-free vacation...