David John Marotta was interviewed on radio 1070 WINA’s Schilling Show, discussing financial planning when you’re in your 40s and early 50s to be on track for retirement.

Listen to the show here:

Here is a list of seven things which are important to ensure during these years and some articles which cover them:

(1) Determine your standard of living.

(2) Do a net worth statement.

(3) See if you are on track for saving toward retirement.
How Much Should I Have Saved Toward Retirement?
Age:   Multiples of your annual lifestyle you should have saved:
40:      3.8
41:      4.1
42:      4.5
43:      4.9
44:      5.3
45:      5.8
46:      6.3
47:      6.8
48:      7.3
49:      7.9
50:      8.5
51:      9.1
52:      9.8
53:      10.5
54:      11.3
55:      12.1

(4) Consider reducing your lifestyle spending and Save 15% or more of your salary.

For more information, here are some helpful articles:

Decide to Be Rich
Advisors’ Two Toughest Words: Save More
Is Funding My 401(k) Match Sufficient to Fund My Retirement?
How Much Should I Save Toward Retirement If I’m Starting Late?
Pay Yourself First

(5) Consider the right amounts of disability insurance, term life-insurance, and umbrella insurance.

(6) Get your estate plan in order.

Make sure it is correctly implemented with titling and beneficiaries.
Consider asking about your parent’s estate plan.

(7) Take stock of your career path, retirement and life planning goals.

For more information, see these articles:

Smart Tax Planning for the Gap Years
Life Planning, Part 2: Just a Few Years Left

Consider Seeing a financial advisor