Thinking about your retirement? Here are some tips for 40 and 50-somethings.

For many people their 40s and 50s are Peak Years: peak income, peak expenses and PEAK STRESS. A down economy and a bad job market certainly don't help. If you're in your peak years and thinking about how the economy and your career are affecting your retirement planning, here are some tips on where to put your focus.

Working in your 40s

• Focus on growth industries: incl. health care, data management and green collar industries
• Build your network: both inside and outside of your field
• Relate your skills to company bottom line: how can you contribute to profits?
• Know your income and expenses: speaking of profits...how is your bottom line? Use a tool like Mint.com to make expense tracking a habit

Working in your 50s

• Start planning your transition: small changes are easiest. Start thinking now about your work track into retirement
• Last chance to start saving: If you put off saving while the kids are young, not is the time to focus on building wealth. Start small if you need to...add 5% more to your 401(k) this year, for example.
• Be aware of age discrimination: Don't neglect your health. If you're planning to work into retirement you need to be healthy enough to be competitive.
• Keep skills up-to-date: Keep learning...are you just as sharp on the new ideas and skills in your industry as your younger peers are?

Retirement catch-up

• Don't raid your accounts if you're laid off: Withdrawals may be taxable and annual savings limits cap how quickly you can catch up later. Minimize the amount you take from retirement funds if you're laid off.
• Don't over-pay for kid's college: You can't take a loan for retirement. Use loans to help pay for college. If you do a good job saving for retirement you can help the kids pay their loans later on.
• Always save enough to get the match: Companies that match your contributions to retirement are giving you free money.
• Watch for early retirement opportunities: If you're looking for a chance to change fields, keep an eye out for early retirement offers to parachute you into your next career

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