If you've reached your mid to late 50s, it's time to start making some concrete retirement plans. It's important to start planning out your retirement at least 5 to 10 years in advance, because you may need to do quite a bit of research to find just the right options for your dream retirement.Retirement is the time when you'll finally get to do all the things you've always wanted to do, but didn't have the time or money to manage.