If you were born between 1946 to 1964, then you're officially a baby boomer. You're just the right age to look forward to retiring, but also live an active lifestyle. But when it comes to money matters, you're probably thinking about retirement and how to meet your financial goals now and in the future. If you've been saving throughout your career, you're already headed in the right direction. However, if you've had to dip into your savings, you might need to play catch up and start building your nest egg. Below are steps you can take to plan for retirement.

Create a Spending Calendar

If you dread the idea of budgeting, take heart that most people feel the same. The idea of following cost cutting tips while scrimping and saving without being able to enjoy living. Thankfully, it doesn't need to be this way. Look at your finances and take inventory of what's being spent each month. Even with the best intentions, it's easy to overspend when you should be saving. Once you identify any areas of concern, it's time to take action. Write how much you want to have in the bank by the time you retire. Is that figure reasonable, or is it something that might need a little more thought? You also need to categorize your financial needs according to importance. Daily living expenses, transportation, and possible medical care all need to be top priority.

Plan for the Extras

Everyone has something they love to do. So, if traveling is yours, you need to find ways to do it without dipping into your savings. Aside from saving up, you can also consider taking out a personal loan. While it might seem counterproductive to add more debt into the mix, it's actually not. If all of your expenses are accounted for, and you're consistently putting money away, then opting for a personal loan to go on vacation is a viable option. With good credit, you have access to lower interest rates and favorable repayment terms. Additionally, you don't have to accept the amount you're offered. You can opt for a lower amount and only use what you really need.

Think About Healthcare

How you pay for healthcare also needs to be considered. Even though you have insurance coverage now, you might not once you retire. If you're going to pay for retiree insurance, you should start saving for that added expense as soon as possible. If you plan on paying for annual physicals out of pocket, you still need to be putting money aside for that every year. If you're going to apply for Medicaid, you'll have to wait until you're over 65 to qualify.

Start Investing

If you haven't thought about investing before, now's the time to do it. T-bonds are a relatively low-cost, low-risk investment, which can be done completely online. You can invest as little as $25 dollars to get started. You do have to wait a year before you cash them in, however, that process can be done online as well. If you already have an investment portfolio, you should review and see if there's any other types of investments to consider. If you only own one type of stock, you should consider diversifying now.