After Saving for Retirement: What Comes Next?

Step	Description	Why It Matters
Review Your Retirement Plan	Assess projected spending, lifestyle needs, and new priorities for retirement.	Helps clarify how your savings translate to real-life expenses.
Estimate Healthcare and LTC Costs	Account for rising medical and long-term care expenses using current data.	Ensures healthcare surprises don’t derail your retirement plan.
Map Income to Expenses	Match income sources to monthly spending and future goals.	Prevents shortfalls and increases financial confidence.
Diversify and Protect Assets	Evaluate risk, market exposure, and principal protection strategies.	Helps your money last throughout retirement, even in market downturns.
Plan for Longevity	Model your plan for a long life—potentially 30+ years in retirement.	Guards against outliving your money and supports legacy goals.
Adjust for Inflation	Factor in cost-of-living increases over time.	Keeps your purchasing power strong over the years.

If you’re among the growing number of Americans who have reached their retirement savings targets—congratulations! Hitting your goal is a major achievement. But what comes next after the finish line?

According to the Center for Retirement Research, 61% of Americans are on track to maintain their lifestyle in retirement—an encouraging sign, driven by rising home values and stronger savings. But with nearly 4 in 10 households still at risk, there’s never been a better time to take control of your future. Let’s explore the smart steps you can take today to turn your retirement savings into real, lasting security and income.

Start with a Retirement Plan

You already know what it takes to live comfortably today. But what will it take to support your goals and needs throughout retirement? While some expenses may go down (like a paid-off mortgage), others may rise—including healthcare and travel. Reviewing your plan helps you identify what your ideal retirement looks like, and how your assets can support it.

Estimated Healthcare and Long-Term Care Costs (2025)

Expense Type	Average Cost (Per Year)	Notes
Healthcare (Medicare + Out-of-Pocket)	$300,000 per couple	Excludes long-term care; based on Fidelity 2025 estimate
Long-Term Care (Nursing Home)	$95,000 per year	Private room, national median (Genworth, 2025)
Assisted Living Facility	$51,000 per year	National median (Genworth, 2025)
Home Health Aide	$56,000 per year	Based on 40 hours/week (Genworth, 2025)

Planning for these healthcare and long-term care costs is crucial—they are often among the largest expenses you’ll face in retirement. Preparing for them early helps avoid surprises and supports your peace of mind.

Don’t Forget Long-Term Care Expenses

Including a long-term care plan is critical for your financial roadmap. Costs can affect you and your loved ones financially, physically, and emotionally. If you’re also supporting aging parents, make sure your plan covers both your needs and theirs to keep your own retirement on track.

Consider Your Longevity

People are living longer than ever before. For those currently in their mid-50s, about one in three men and half of women will reach age 90, according to the Society of Actuaries. Your retirement income plan should cover several decades to ensure you don’t outlive your resources.

Match Your Expenses to Your Income

Next, map your income sources—like Social Security, pensions, earned income, and guaranteed income—to your monthly expenses and goals. Inflation should be included in your projections, so your plan keeps pace with rising costs. Guaranteed income sources, such as fixed index annuities, may help provide protection and reliable payouts throughout retirement.

Key Considerations for Post-Savings Retirement Planning

Consideration	Action Step
Long-Term Care	Explore insurance-based solutions to help cover potential LTC costs.
Healthcare Inflation	Use updated cost projections and build in a cushion for rising medical expenses.
Guaranteed Income	Review your options for lifetime income, such as fixed index annuities.
Asset Protection	Check your risk exposure and diversification. Consider insured solutions.
Legacy Goals	Align your strategy with your wishes for heirs and charitable giving.
Spousal/Partner Needs	Ensure both partners are included in the plan and protected if one passes first.

Protecting your nest egg for the long term is a top priority. Reviewing your mix of assets, withdrawal strategy, and exposure to market volatility can help keep your money working for you—without taking on unnecessary risk.

Measure Your Diversity

As you move from saving to spending, it’s vital to ensure your assets are diversified for income, protection, and growth. Consider how market risk, guaranteed income products, and asset protection strategies fit together to support your needs across a long retirement.

Frequently Asked Questions: After Reaching Your Savings Goal

Question	Answer
Should I keep saving after I reach my goal?	It can help, especially if you expect higher expenses or want to leave a legacy. But consider shifting focus to income and protection strategies.
What’s the biggest risk after reaching my savings target?	Unexpected healthcare or long-term care costs, market downturns, and longevity risk can all impact your plan.
How often should I review my retirement plan?	At least annually—or whenever your circumstances, goals, or the law changes.
What is the role of guaranteed income now?	Products like fixed index annuities can help provide income you can’t outlive, especially as you move from saving to spending.
What if I want to help adult children or parents?	Work those goals into your plan, but ensure your own needs remain protected first.

Reaching your retirement savings goal is just the beginning of your financial journey. Careful planning, ongoing review, and smart diversification can help ensure your money lasts—and supports the retirement you’ve worked so hard to achieve.