Hi,
Turning 60 soon and am late to the game in terms of retirement planning.
I've always been conservative but, not a great, save.
Together, my wife and I have 1.2M (401ks,IRAs,403b,pension). We both work and pull good salaries ($250k total).
I am a bit nervous about retirement spending so, want to do what I can over the next 3 yrs before I retire. This year's plan was to pay off debt. By next month we'll have all CCs and loans cleared except for mortgage. I don't expect to pay off mortgage since we still owe $298K at 3.6%. Have about $140k in equity.
What is the most effective plan for the next 3 years?
My thought is first, sell house and downsize ... maybe rent. Also, max out 401k contributions.
Beyond that ???