Retirement may seem like a distant concern when you are in your 20s or 30s, but the decisions you make throughout your working life can significantly affect your financial security later. At the same time, people who begin preparing in their 40s, 50s or even 60s should not assume they have waited too long. Retirement planning is not about reaching a particular age before you start. It is about understanding where you are today and making deliberate choices that improve your future.
Before focusing on investment accounts and savings rates, consider what you actually want retirement to look like. Some people imagine traveling extensively, while others want a quiet life near family. You might want to continue working part-time, volunteer, pursue hobbies or simply have greater control over your schedule. Your expected lifestyle determines how much income you are likely to need. Housing is particularly important. Someone entering retirement with a paid-off home may have very different expenses from someone who expects to rent or continue making mortgage payments.
By Edward Griffin MBA, MS, MLS(ASCP)SBB, CLS, CQA(ASQ), PMP, Contributing Writer
October 2026
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Transfusion is AABB’s scholarly, peer-reviewed monthly journal, publishing the latest on technological advances, clinical research and controversial issues related to transfusion medicine, blood banking, biotherapies and tissue transplantation. Access of Transfusion is free to all AABB members.
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