I just told my boss I’m retiring this year — and now it finally feels real. How do I get myself ready?

Wait 5 sec.

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But for many, their financial future is uncertain.In fact an estimated 4.1 million Americans will be retiring every year from now through 2027. It’s a phenomenon Jason Fichtner, executive director of Alliance for Lifetime Income, has dubbed the “Peak 65 Zone” (1).Fichtner notes that unlike older boomers, most of these younger retirees have no pension, “which used to help fill the gaps left by Social Security.”If you’re among them, it’s understandable if you’re feeling both exhilarated at starting a new chapter and nervous about how you’re going to fund the rest of your life.Retirement is a big life transition. It helps to have a solid financial plan and the resources to support it to feel comfortable as you wave goodbye to your working life.Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's howRobert Kiyosaki says this 1 asset will surge 400% in a year — and he begs investors not to miss its ‘explosion'Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here’s what it is and 3 simple steps to fix it ASAPHere are some ways to prepare for the transition.Be sure to use the months leading up to retirement to run some numbers and determine your net worth.Budgeting for current and future expenses will help you come up with an effective withdrawal plan.For many, the 4% rule is a decent guideline. This entails withdrawing 4% of your retirement savings in the first year, then adjusting the amount for inflation in subsequent years.Depending on your portfolio, this should ensure your retirement savings last 30 years or so. The average American enjoys 20 years post-retirement.Read more: Are you richer than you think? Here are 5 clear signs you’re punching way above the average American’s wealthIf you’ve invested in a workplace pension, look at your individual benefit statement to find out how much you'll get each month. Married couples may have different choices if an employer offers spousal benefits.If you’re 65, you will qualify for Social Security. The benefit you’ll receive is based on how much you’ve paid in taxes and whether you choose to collect your benefits early or delay them until after your official retirement age.The Social Security Administration website offers an online tool to calculate how much you could get in different scenarios.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,728.80 +8.48 (+0.13%)Dow 3046,987.10 +74.80 (+0.16%)Nasdaq23,004.54 -49.46 (-0.21%)Russell 20002,432.82 +14.00 (+0.58%)VIX19.08 -0.42 (-2.15%)Gold4,009.80 +18.80 (+0.47%)PortfolioSign in to access your portfolioSign inTop gainersGMED Globus Medical, Inc. 83.89 +22.18 (+35.94%)FROG JFrog Ltd. 60.00 +12.74 (+26.96%)EOSE Eos Energy Enterprises, Inc. 18.26 +2.97 (+19.42%)OS OneStream, Inc. 22.74 +3.66 (+19.18%)EXPE Expedia Group, Inc. 258.25 +38.55 (+17.55%)Top losersUI Ubiquiti Inc. 612.19 -147.38 (-19.40%)PRMB Primo Brands Corporation 14.46 -3.24 (-18.31%)RUN Sunrun Inc. 17.13 -3.29 (-16.11%)DIOD Diodes Incorporated 44.28 -7.53 (-14.53%)DOCS Doximity, Inc. 54.29 -8.29 (-13.25%)Most activeNVDA NVIDIA Corporation 188.15 +0.07 (+0.04%)OPEN Opendoor Technologies Inc. 6.56 0.00 (0.00%)ACHR Archer Aviation Inc. 8.18 -0.70 (-7.88%)PLUG Plug Power Inc. 2.6500 +0.1400 (+5.58%)PFE Pfizer Inc. 24.43 +0.01 (+0.04%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersBTC-USD Bitcoin USD 101,819.62 +1,137.80 (+1.13%)ETH-USD Ethereum USD 3,399.67 +115.03 (+3.50%)XRP-USD XRP USD 2.28 +0.07 (+3.30%)^GSPC S&P 500 6,728.80 +8.48 (+0.13%)MTSR Metsera, Inc. 83.18 +1.63 (+2.00%)Top economic events