15 Signs You're on Track for a Financially Secure Retirement

It used to be the case that setting aside 10% of your income in a retirement plan would suffice. But that guidance has changed. These days, workers are generally advised to sock away 15% to 20% of their income (or more, if possible) for their senior years. Even if you're only hitting the lower end of that range, it means you're doing a pretty bang-up job of funding your nest egg.

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You may not be able to start out by allocating 15% of your earnings or more to a retirement plan. But if your savings rate keeps increasing consistently, it probably means that you're making good progress.

It's important to invest your nest egg in a manner that fuels a decent amount of growth. For the most part, that means loading up on stocks. If your savings largely consist of individual stocks or stock-focused index funds, it's a sign that you're on a good path.

It's common to house your retirement savings in an IRA or 401(k) plan. But those aren't the only accounts to look at. It also pays to take advantage of a health savings account (HSA), which could serve as a dedicated source of money to pay for healthcare later in life. Additionally, you may want to keep some money for retirement in a traditional brokerage account so you have more flexibility for tapping it.

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Social Security may end up being an important source of income for you once your career ends. And if you understand how the program works and what it takes to boost your benefits, then you're in a good position to make the most of it -- and enjoy a solid retirement.

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Healthcare could end up being your single largest expense once you retire. If you're aware of what healthcare costs are averaging for seniors, it's a good step on the road to mapping out a realistic retirement budget.

Some seniors are shocked to learn that Medicare isn't free. If you know how Medicare works and what costs you might incur under it, it means you have a solid grasp on your future expenses -- and that you're less likely to see your retirement budget thrown off course.

Unhealthy debt, like credit card balances, can cost you a lot of money in interest -- money you could otherwise be using to fund an IRA or 401(k). If your unhealthy debt is kept to a minimum (or, better yet, you don't have any at all), it's a sign that you're in good shape to keep contributing to your long-term savings.

While retiring with a mortgage isn't always the end of the world, you're better off shedding that debt before your career wraps up. That way, you'll have one less expense to grapple with as a senior. If you're making great progress on the mortgage payoff front, it means you may have an easier time managing your bills once you retire.

ALSO READ: What to Do if You Can't Pay Off Your Mortgage Before Retirement

It's important to have money in the bank for unplanned expenses. If you have enough cash in savings to cover three to six months of essential living costs, it means you'll be less likely to land in unhealthy debt. That, in turn, puts you in a solid position to work toward your long-term savings goals.

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It's important to think about what your living costs will look like once you stop working. If you've taken the time to map out a retirement budget, you're already in a good place to manage your money well once you move over to a fixed income.

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The amount of money you have available to you in retirement may be less than what you're paid now. But if you're already in the habit of living below your means, that may not be a problem at all.

Working part-time in retirement is a great way to boost your income. It's also a good way to stay busy without spending money. If that's part of your plan, you'll likely manage your bills more easily as a senior.

While you can count on some income from Social Security in retirement, and ideally your nest egg will allow for generous withdrawals, it also helps to have investments that will pay you regularly. To this end, owning dividend stocks and municipal bonds could lead you to a place where money worries don't come into play.

Some people choose an arbitrary date to retire without really considering the implications involved. If your retirement date is based on factors like Social Security and Medicare eligibility, it means you may be more likely to leave the workforce at just the right time -- and avoid financial issues once you do.

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Retirement is a milestone to look forward to, and if you can do so without heavy financial concerns, even better. If these signs apply to you, it means you may be well on your way to the financially comfortable retirement you deserve.

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