If you’re in your 50s, retirement is right around the corner — so consider these retirement planning tips.

It starts with having a retirement goal age in mind. Know this can impact your benefit amount. You should also create a budget, and plan for longer than your projected lifespan just to be safe.

You may also want to pay down debts and downsize your lifestyle as much as possible during this strategic pre-retirement time period.

In today’s age, you should plan for inflation. You should also allot some extra funds for the costs seniors typically pay more for, like healthcare.

It also helps to prepare yourself mentally, and make a point to center your retirement goals around what you find important, whether it’s time with family, traveling, or other.

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