7 Investments to Secure Before 60

Turning 60? Don't panic — lean in. Because while the world throws around terms like "golden years" and "fixed income," you still have time to make moves that future-you will thank you for. Picture this: you at 75, sipping something frothy on a patio somewhere beautiful, absolutely not worrying about money. That vision starts here with these seven smart, sanity-saving investments that can bring in income, security, and even joy. Whether you're ahead of the game or playing catch-up, this list is your friendly nudge to get serious — and maybe have a little fun while you're at it.

1. A Supercharged 401(k)

If your employer offers a 401(k), now's the time to max it out like you're headlining your own financial farewell tour.

At 60, you qualify for catch-up contributions — up to $7,500 more in 2024, and thanks to SECURE 2.0, up to $11,250 extra if you're 60 to 63 years old in 2025 — on top of the $23,500 limit for regular contributions that year.

Many employers also match a portion of what you put in. That's free money. Free. Money. Don't leave it on the table.

2. The Often-Overlooked IRA

IRAs — traditional or Roth — might not be flashy, but they are fiercely effective.

In 2024 and 2025, individuals aged 50 and up can contribute an extra $1,000 beyond the standard $7,000 limit.

A traditional IRA can reduce your taxable income now, while a Roth IRA gives you tax-free withdrawals later. Either way, it's a win.

3. Real Estate That Pays While You Sleep

Real estate can be more than just your home — it can be a retirement income machine.

Consider a rental property for steady monthly checks, or Real Estate Investment Trusts (REITs) for a hands-off way to invest in commercial real estate. REITs let you own a piece of income-generating properties without being the one unclogging toilets at 2 a.m.

Both options offer income potential and diversification — a smart combo at any age.

4. Annuities That Cut You a Check — Forever

If you like the idea of knowing exactly how much money you'll get each month, annuities might be your jam.

They're insurance products that provide guaranteed income for life in exchange for a lump-sum payment or series of payments. Some even protect against market losses.

Think of them as your own personal pension — predictable, no matter what the stock market is up to.

5. A Portfolio That Knows Your Age

Let's be honest — your 401(k) mix from 1992 probably needs a glow-up.

Financial wisdom says that as you near retirement, your investment mix should shift to be more conservative. One example: 70% bonds, 20% stocks, and 10% cash equivalents like money market funds.

Or go with a target-date fund — it adjusts automatically as you age, like a slow cooker for your savings.

6. A Healthcare Cushion

If you think health care in retirement is a Medicare-only affair, think again.

The average 65-year-old couple retiring in 2022 will need about $315,000 for healthcare over their retirement.

To prepare, consider long-term care insurance or earmark a chunk of your savings just for health expenses. It's not glamorous — but neither is scrambling for money when you need a root canal.

7. You — Yes, You

Here's the part no financial advisor can put in a pie chart: investing in yourself.

That side hustle you always dreamed about? The art class, the podcast, the travel blog, the volunteering gig — those aren't distractions. They're future income, purpose, and joy.

Invest in who you want to be, not just what you want to have. Because the best return on investment might be waking up at 65 feeling curious, useful — and very much alive.

Final Thought

These seven investments aren't about catching up — they're about catching fire.

Whether your nest egg is plump or you're just getting started, there's still time to make your money — and your life — work harder for you. Retirement doesn't have to feel like the credits are rolling. You've still got scenes to shoot. So why not make them the best ones yet?

References: The Ultimate Guide to Investing for Retirement at Age 60 | Top Retirement Savings Tips for 55-to-64-Year-Olds