Retirement planning

Whether you’re just starting to plan for your last day of work or are already living in retirement, it’s important you’re able to do it on your terms. Let’s make it happen.

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Are you ready to retire? | Retirement calculators | Understanding your 401(k) | Understanding Social Security

Are you ready to retire?

Four questions to ask before you retire

Successful retirement planning requires knowing what you’re planning for. Play the video to learn what questions you should be asking yourself before retirement.

SECURE 2.0 Act: What you need to know about retirement rule changes

How do I know if I am on track for retirement?

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Review your retirement assets and expenses

Start by calculating your future expenses.
Next, review guaranteed sources of income such as Social Security, pensions, annuities, and trusts.
Then, determine how much you’ll need to generate from personal savings, IRAs, 401(k)s, and other investments to support your desired lifestyle and long-term financial goals.

Find out what you need to do one year before retirement

3 moves for catching up on retirement savings

Three areas of retirement planning

Be sure your retirement plan includes:

1. Financial Planning: Create a basic financial retirement strategy to help manage finances effectively during retirement.

2. Organizational Planning: Establish directives, update beneficiaries in financial accounts, and keep important records and documents accessible to those close to you.

3. Emotional Planning: Explore new ideas, hobbies, and opportunities before retiring. Also, reconnect with family and friends to help with activities that may become more challenging as you age.

Learn more about retirement planning

10 ways to find meaning and purpose in retirement

Retirement calculators

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Step 1 of 5 | About You

Will I have enough guaranteed income in retirement?

Understand what your expenses may be in retirement and calculate the gap between those expenses and your guaranteed income.

5 MINUTES TO COMPLETE

Quick Start

Enter your information in the calculator. If you have a partner, they can complete the calculator and together you can get a more complete picture of retirement.
To complete the calculator even faster, get your current monthly expenses ready and any pension or other expected retirement income.
Our calculation is just an estimate, not a guarantee. So even if you have an income gap, don’t worry. We’re here to help you find ways to close the gap and plan for the retirement you want.

How much should I save for retirement?

See if you're on track for the retirement you want. MassMutual's Retirement Savings Calculator provides a look at your retirement nest egg and estimated monthly income.

Take the next step

Whether you're just beginning your retirement savings journey or nearing retirement, we offer products and solutions that may help you retire comfortably.

Learn more about retirement products

Understanding your 401(k)

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Understanding 401(k)s

A 401(k) allows you to contribute pre-tax income into a retirement account, which can help you build long-term savings while lowering your taxable income today. While 401(k) plans are widely used by U.S. employers, other options such as 403(b), 457, and 401(a) plans also exist, offering comparable features and benefits.

Get started with understanding your 401(k) statement (PDF)

What is a 401(k) and how does it work?

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How does a 401(k) plan operate?

A 401(k) is a simple, automated way to contribute toward retirement—funds are deducted from your paycheck each pay period and placed into your account unless you choose to stop. Contributions are typically made with pre-tax dollars, lowering your taxable income today. Some employers offer Roth 401(k)s, where you contribute after-tax. Learn our tips for making 401(k) decisions.

Making 401(k) decisions

Explore how a tax diversification strategy can help you manage taxes now and in retirement

Understanding Social Security

Social Security provides monthly income in retirement, but when and how you claim it can significantly impact your long-term benefits. Factors like age, health, marital status, and financial needs, all play a role—so understanding your options is key to making the most of it over what could be a 25+ year retirement.

Watch this video to learn how your long-term Social Security benefits can be impacted by when you file.

Learn more about how Social Security works (PDF)

How is eligibility determined?

Eligibility for Social Security retirement benefits depends on two key factors: the number of Social Security credits you've earned throughout your working life and your age at the time you apply for benefits. As you work and pay Social Security taxes, you accumulate credits toward your retirement. To qualify for benefits, you must have earned at least 40 credits.¹

How much Social Security will you get? The 4 big drivers

¹ Social Security Administration, "Benefits Planner: Social Security Credits" www.ssa.gov/planners/credits.html

Illustration: How you can earn Social Security

Understanding when to apply

Before you begin receiving benefits, it’s important to understand how Social Security benefits work and the filing options that may be available to you. Taking benefits early can have an impact on you, your spouse, and on survivors benefits later in life. It can mean leaving money on the table in the form of a reduced monthly benefit—a reduction that is permanent.

Check out the full retirement age chart to see when you’re entitled to receive full Social Security retirement benefits.¹

Not sure when to apply? Learn more

¹ Social Security Administration, "Starting Your Retirement Benefits Early" https://www.ssa.gov/benefits/retirement/planner/agereduction.html

² Social Security Administration, “Benefits Planner: Retirement | Full Retirement Age,” www.ssa.gov/planners/retire/retirechart.html

A chart explaining the retirement age based on year of birth

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Start here: Your filing strategy

Before you file, one of the most important steps you can take is to set up your Social Security account with the Social Security Administration. This is an easy and secure way to view your estimated benefits and earnings history. The Social Security Administration will use this information when it calculates your benefit, so be sure that it accurately reflects your work history.

If you’re wondering how Social Security works when you retire, rest assured you’re not alone. A financial professional can help you assess different filing strategies based on your marital status and your overall retirement income needs.

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A financial professional can help

It pays to plan ahead and we're here to help. Even if you cannot use certain filing strategies, Social Security planning is still important. Depending on your particular situation, waiting even one or two years could result in a larger monthly benefit. Take the guesswork out of your Social Security filing decisions and consider making an appointment to discuss your options. When you’re ready, a financial professional can help you make an informed decision.

When to apply for Social Security

How to put the Social Security bonus to work

Discover how easy it is to work with a financial professional

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No commitment
There's no cost to set up a meeting and talk with us.

It’s about Y-O-U
We’ll get to know you and understand your financial situation, goals, and objectives.

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Trusted advice
We'll provide you with options so you can choose the financial products and solutions that are best for you.

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A plan for the future
We’ll talk about the road ahead and set you up for success.

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Helping you secure your future

When you work with a financial professional, you’ll have an advocate in your corner, someone who understands your unique financial needs and family situation—and how to tailor a solution around both.

Find a financial professional
Read more about holistic financial planning

Retirement planning

Are you ready to retire?

Four questions to ask before you retire

Review your retirement assets and expenses

Three areas of retirement planning

What does three decades of retirement look like?

Retirement calculators

Will I have enough guaranteed income in retirement?

Quick Start

How much should I save for retirement?

Whether you're just beginning your retirement savings journey or nearing retirement, we offer products and solutions that may help you retire comfortably.

Understanding your 401(k)

Understanding 401(k)s

How does a 401(k) plan operate?

Growing your account

Determining your investment strategy

Understanding Social Security

Understanding Social Security

How is eligibility determined?

Understanding when to apply

Start here: Your filing strategy

A financial professional can help

Discover how easy it is to work with a financial professional

Helping you secure your future