Preparing for retirement can be overwhelming. There are lots of things to think about and plan for, the largest usually being money. The general rule of thumb is that you’ll need at least 70% of your pre-retirement income saved. 70% can seem daunting or achievable to many, but there are lots of ways to prepare for retirement. IRA and 401k accounts are generally great ways to begin saving, but yes you will likely need more savings than you realize for when you retire.   You can get started planning for your retirement by creating a list of all of your post retirement expenses. These include regular everyday expenses and large trips or expenses you plan on making down the road. This list of expenses can give you a good idea of how much money you will need to retire on.   Here’s a few ways you can prepare for retirement:   Get rid of your debt. Housing can demand 30% or more of your income. If you can, it can be very beneficial to pay down or pay off your mortgage before retirement. If you have a larger mortgage, you could sell your home and downsize into a more affordable payment. You could also relocate to an area with a lower cost of living.    Another way you can reduce your debt is by owning your car as long as it is safe and operable before purchasing a new one. This can give you an extra few years without car payments and open up some room in your budget.   Reduce your spending. Get crafty with finding ways to save! Utilize senior discounts and any other discount you can access. There are many online tools that can help you find deals on things like travel, large purchases such as electronics, and everyday expenses like groceries. Every little bit that you save can be packed away.    Consider working part-time during your retirement. A great way to supplement your retirement savings is to generate income from a part time job! You can work a fun job that plays on your interests and desires instead of pressing into a career. Having a part time job can be very rewarding and satisfying for many retirees, and it could fulfill the need for supplemental income.