Complete your emergency fund In a 2016 GoBankingRates survey, 33% of baby boomers aged 55 to 64 had no money stashed away in savings, while 36% had less than $1,000.
That's why, regardless of age, you still need enough emergency savings to cover three to six months' worth of living expenses.
Currently, anyone aged 50 and over can put up to $6,500 a year into an IRA and $24,000 a year into a 401(k).
Even if you've been saving throughout your career, now's the perfect time to boost your retirement savings rate because, conceivably, you only have a few more years to fund your account.
If you have a fully loaded emergency fund, and your IRA or 401(k) balance is healthy, it pays to pump some extra money into your mortgage so that it's paid off by the time you retire.
This way, you'll be able to stretch your retirement income further once you do stop working.
Get out of credit card debt Believe it or not, seniors aged 65 and over carry more than $6,300 of credit card debt on average -- and that type of debt can be a huge drain on your limited retirement income.
In fact, Genworth's 2016 Cost of Care Survey estimates that it typically costs more than $43,000 a year to reside in an assisted living facility, and $82,000 a year or more to live in a nursing home.
That's why it pays to sign up for long-term care insurance in your 50s, when it's cheapest to secure coverage.
Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after.