The average retirement age is 62, most baby boomers are either retired or close to it. Experts advise on personal finance habits for boomers in 2026, urging changes where necessary. Financial behavior specialist Cara Macksoud distinguishes between obedient savers and those who fear spending post-retirement.

Older boomers should focus on required minimum distributions to avoid IRS penalties, while younger boomers should be aware of them. Consider Roth conversions and retirement tax strategies for maximum savings. New legislation allows for increased IRA and 401(k) contributions, with a ‘super catch-up contribution’ for individuals aged 60 to 63 in 2026.

Read more at Yahoo Finance: 5 Best Money Habits for Boomers To Carry Into 2026