Every year, millions of Americans receive an inheritance—from their parents, a spouse or other loved ones. An inheritance can include many different assets, from investment accounts to real estate to individual retirement accounts (IRAs). 

Over the course of a career, it’s not uncommon for a person to accrue a variety of retirement accounts: 401(k)s from one or multiple employers, IRA(s) with different companies, etc. But having multiple accounts with different companies can get complicated, making it difficult for you to keep an eye on fees, diversification and your overall financial picture.  

High inflation levels have eroded many Americans’ confidence in their retirement preparedness. According to the 2023 Northwestern Mutual Planning and Progress Study, U.S. adults aged 18 or older expect they will need $1.27 million to retire comfortably, a 20 percent rise since 2021.  Luckily, Americans’ average retirement savings increased a bit to $89,300.

It's not January 1st, but who says you can't make a resolution at any time of year? Now is a great time to review your saving, investment, insurance, and tax strategies for retirement. Not sure where to start? Use this guide to make sure you don't forget anything!

When you retire, do you plan on doing one or more of the following?

• Travel the world and explore exotic locales
• Spoil your grandchildren
• Relax in your beach house or mountain cabin
• Live comfortably until you pass away

Internally, we all have big dreams for that day when we finally step down from our job and step into a life of leisure in our golden years.