Sixty can sneak up on you. Retirement is fast approaching, it’s time to take action.

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Here are some smart money moves to make in your 60s.

  • Face reality: Surviving 60 is a milestone. “Congratulate yourself and get comfortable with the fact that you could live another 40 years. Do longevity planning. You don’t want to outlive your money,” says Paula Brancato, a financial advisor with Northwestern Mutual in Manhattan.
  • Boost your income: There is no such thing as too much money. Ramp up your savings by making extra money through a part-time job, suggests Saul Simon, a certified financial planner with Simon Financial Group in Edison, New Jersey.
  • Minimize debt: “All debts and loans besides a mortgage should be paid off, and you should be close to paying off the mortgage,” says Sharon Lear, owner of Guideway Financial in Austin.
  • Create a spending plan for retirement: Now that you’re beginning to really sense what you want your later years to be like, developing a spending plan is important. “Be realistic, not optimistic, and incorporate inflationary expectations,” says Bob Johnson, president of The American College of Financial Services in Bryn Mawr, Pennsylvania.
  • Be astute about Social Security: At 62, you can collect benefits. “A great achievement would be to save enough so that you don’t have to collect yet,” says Nahum Daniels, a retirement income certified professional in Stamford, Connecticut. If you file at age 62, the standard benefit is reduced by 30 percent. Your benefit grows each year you wait until 70.
  • Reassess: Re-evaluate your retirement portfolio. Review insurance policies, beneficiary designations, and estate planning documents. If you don’t have them, get them done.