Retirement Planning After 60 – Late-Starters Guide

It’s Never Too Late to Plan

If you’re in your 60s or even 70s and just starting to think seriously about retirement, you’re not alone—and you’re not out of options. Many seniors across West Michigan, from Muskegon to Grand Rapids, are still working, still saving, or trying to make the most of what they’ve built. Whether you’ve delayed planning or life just took unexpected turns, it’s not too late to create a strategy for your retirement years.

At Quality Choice Insurance, we help with retirement planning for seniors 65+, focusing on realistic, practical steps to help you stretch your dollars, protect your health, and build a stable income for your future. You don’t need to have it all figured out—we’ll walk you through what’s possible.

Maximizing Social Security & Medicare

The timing of when you begin Social Security and Medicare matters—and mistakes can be costly. For those still planning retirement in their 60s, delaying Social Security benefits even by a few years can significantly increase your lifetime payout. Starting Medicare on time avoids late enrollment penalties and gaps in coverage. For those working past 65, it’s important to coordinate employer insurance with Medicare properly.

We offer Medicare planning guidance to help you avoid missteps and ensure you’re getting the most value out of your benefits. A proper plan can reduce healthcare costs, protect your income, and extend your resources well into retirement.

Catch-Up Contributions & Investment Planning

If you’re still working, now’s the time to ramp up your savings. The IRS allows catch-up contributions to retirement accounts for those age 50 and older—up to $7,500 extra annually into a 401(k), for example. If retirement is just around the corner, every extra dollar counts.



For those already retired or with modest savings, we focus on smart, stable options—like annuities or other safe retirement income tools—that can help preserve what you have and turn your savings into predictable monthly income. We’ll help identify opportunities that match your risk tolerance and timeline.

Protecting What You’ve Earned

Retirement isn’t just about having money—it’s about keeping it. Medical bills are the leading cause of bankruptcy among older adults, which is why health insurance for seniors (primarily through Medicare) is critical. Beyond that, life insurance can be a smart tool for final expense coverage or even leaving something behind for your loved ones.

We’ll walk you through the right options for:

• Medicare and supplemental plans
  
• Final expense life insurance
  
• Optional long-term care planning (if applicable)
  
• Income protection through annuities
  
  

These tools help create financial confidence and reduce stress in your retirement years.

Avoiding Common Pitfalls

Planning later in life means you have less time to recover from mistakes. Some of the most common missteps include:

• Claiming Social Security too early without considering the long-term impact
  
• Missing Medicare enrollment deadlines (and triggering penalties)
  
• Cashing out retirement accounts instead of rolling them over
  
• Falling for scams or misleading financial products
  
  

We serve as your retirement planning adviser in Michigan, making sure every step you take supports your long-term goals—not someone else’s sales pitch. We’ll help you steer clear of costly errors and focus on what really matters.

FAQs – Retirement Planning for Seniors

Schedule a Retirement Review

No matter your age or situation, you deserve a retirement plan that reflects your goals, protects your income, and gives you peace of mind. Let’s talk about where you stand and how we can help. Schedule a Retirement Review with Quality Choice Insurance today—by appointment only, always one-on-one.