In Our 60s

The Life Decades Series

This article is part of a series exploring each decade of adult life — the defining lessons, the financial priorities, and what makes each stage unique.

Defining Lessons

The Journey So Far

Reaching your 60s means traversing through every phase of life — from the innocence of childhood through the responsibilities of adulthood. It means having navigated personal and professional challenges, savored achievements, and learned from failures. This journey is characterized by the relationships built, the love shared, and the lessons earned.

Many in their 60s have reached the pinnacle of their careers or transitioned into retirement. Reflecting on professional contributions and impact can be a source of immense pride. It is also a time to mentor and inspire, passing on knowledge and expertise gained over decades.

Health & Well-being

As we age, maintaining health and well-being becomes increasingly important. The 60s often prompt a renewed focus on physical and mental health. Regular exercise, a balanced diet, and routine health check-ups become essential. Mental well-being is equally crucial — mindfulness practices, hobbies, and social connections all play significant roles in maintaining a positive outlook and preventing cognitive decline.

Financial Priorities for Your In Our 60s

The 60s are when every major financial decision crystallizes — Social Security timing, Medicare enrollment, retirement account withdrawal strategy. Each choice is largely irreversible. Getting them right matters enormously.

1. 1
   Enroll in Medicare at 65 — do not delayPart B late enrollment penalties are permanent — 10% per year for every year you miss. Enroll during your Initial Enrollment Period (3 months before your 65th birthday through 3 months after). See the full guide. Learn more ›
2. 1
   Property Tax ExemptionSome states may provide provisions to reduce property taxes at 65. You typically need to file for them, as it is usually not automatic..
3. 2
   Make your Social Security timing decision carefullyClaiming at 62 permanently reduces your benefit ~30% vs. your FRA. Each year you delay past FRA adds ~8%. This decision affects your income for life and should be made with full information. Learn more ›
4. 3
   Finalize your retirement withdrawal strategyWhich accounts do you draw first? Tax-deferred (IRA, 401k), taxable (brokerage), or tax-free (Roth)? The order determines your tax burden in retirement. Get professional guidance on sequencing. Learn more ›
5. 4
   Review estate planning documents completelyWills, powers of attorney, healthcare directives, and beneficiary designations. Ensure everything reflects your current wishes. Consider whether a trust is appropriate.
6. 5
   Assess Social Security and benefit eligibilityAt 65, Medicare eligibility begins. Review all benefits available to you — including any pension distributions — and confirm timing of each. Learn more ›

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