Turning 58 isn’t just another birthday; it’s a strategic checkpoint for your retirement journey. As an investment professional and certified financial planner, I find it is the critical age where people begin to assess the possibility of leaving the workforce or making decisions that are more considerate of personal values, goals and desires.

With the focus on how one desires to enjoy retirement coupled with serious thought about legacy, a person’s thought always turns to economic status. Here are four steps you can take to make the most of this pivotal age.

Also see seven crucial retirement decisions to make by age.

Review Your Retirement Plan

At 58, you’re close enough to retirement to make accurate projections and stress-test your portfolio. This is the time to update your financial projections and revisit retirement goals, expected expenses and income sources.

You’ll want to factor in longevity risk because retirement could last 30 years or more. Focus on healthcare planning and estimate your healthcare costs. Remember, you’re still too young for Medicare, so plan for private insurance or COBRA if you retire early. Consider supplemental policies for dental, vision and hearing as well.

Finally, stress-test your portfolio. Assess how your investments would perform under different market scenarios, and adjust your asset allocation to balance growth and protection.

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Maximize Your Savings

Your late 50s are often peak earning years, and the IRS allows catch-up contributions to retirement accounts. Take full advantage of catch-up provisions for 401(k)s and IRAs.

Also revisit employer matches. Make certain you are taking full advantage of capturing every financial benefit.

Finally, review how health savings accounts can be utilized. They offer triple tax advantages, and the resources can be used for qualified medical expenses in retirement.

Consult Professionals

Retirement planning at 58 can be complex. Take the time to work with a financial planner. They can help you navigate Social Security claiming strategies, healthcare planning and portfolio management.

A serious moving part is identifying insurance needs. Consult with insurance experts about long-term care, supplemental health coverage and life insurance. Many recognize too late that their long-term care needs increase substantially.

Also seek legal and tax advice. Peak earning years gives one an opportunity to increase overall net worth. Attorneys and tax advisors can assist with updating any estate plans and optimizing tax strategies.