Getting ready for retirement isn’t just just a simple as saving money. Certified Financial Planner Michelle Buria of Choreo says that you should consider age, replacement income, and healthcare costs.

No. 1: Age

“Age can be all over the board. There’s no right or wrong age when to retire,” Michelle tells us.

According to Empower, the average age for women to retire is 63. For men it’s 65.

Longevity is another factor to consider in retirement.

No. 2: Replacement income

Social security benefits aren’t typically enough to live on. So it may come down to a pension, but you’re ultimately going to need to save.

Michelle would recommend working to replace 100% of your income.

No. 3: Healthcare

“As people age those healthcare costs do get to be more expensive as well,” Michelle explains.

Retiring before 65, or Medicare age, would mean you have to pay for healthcare out of pocket.