The 40s are a critical decade in one’s life, often characterized by significant personal and financial growth. It’s also a crucial period for retirement planning. Here are eight comprehensive strategies to maximize your retirement savings in your 40s.

1. Prioritize Retirement Savings

In your 40s, retirement planning should take center stage in your financial strategy. It’s essential to contribute regularly to your retirement accounts, such as a 401(k) or an Individual Retirement Account (IRA). If your employer offers a 401(k) match, strive to contribute at least enough to get the full match—it’s essentially free money. Also, consider the tax benefits of these accounts. Traditional 401(k) and IRA contributions are tax-deductible, while Roth 401(k) and IRA contributions grow tax-free.