Daily we’re reminded of ways to improve our physical health: eat less fat, exercise, drink more water and reduce stress. While these things are certainly beneficial and important, we can’t neglect our financial health either. Let’s aim for a healthy body and a healthy retirement as well. Here are six steps for you to consider today:

1. Take time now, and figure out where you are. Whether you’ve started saving late in the game, or you’re right on target, it’s crucial to know exactly where you stand. Use a balance sheet format and make a list of all your assets and liabilities. Know where all of your accounts are, and how they are invested.
2. Decide on a plan for the future. This is the fun part. Spend some time dreaming about what you want retirement to look like. Will you downsize to a smaller home? Considering moving to another city or state? What will your activities be? How much monthly income will you need to make this dream a reality?
3. Make saving for retirement a priority. You will likely spend 20 or more years in retirement, and inflation may average 3% per year or more. Whatever is getting in the way of saving for retirement may have to wait, whether it is a new car, that long vacation or even the children’s college expenses. Put a percentage of your income into retirement savings automatically each month, increasing it as you can. Visit our helpful calculators to help estimate your investment and savings goals. 
4. Balance the budget and pay off existing debt. Too much month left at the end of the money? Make sure that expenses are in line. For three months, keep a record of all your expenses and then study the list for ways to reduce cash outflow. If you are carrying high interest rate debt, you are actually negating the interest rate you’re earning on your retirement assets. Cut up those credit cards and begin paying them off as quickly as you can.
5. Monitor your progress at least once a year. Use GuideStone's helpful resources to determine your risk tolerance and to make sure your portfolio allocation conforms to it. You may need to adjust your investment mix as you get closer to retirement. Most importantly, don’t panic if you’re behind in your savings. Many adjustments can be made to live less expensively after you leave the workforce, in addition to delaying retirement or working part time in retirement.
6. Know what you need and when you need it. Remember, depending on your retirement income solution, you may not need your entire account balance on the day you retire. Your account will need to continue to grow to offset inflation and to meet your retirement dreams.

Whatever your situation, take the time to fully understand your goals and your retirement assets. The best time to prepare for your future is today.