Retirement Planning Guide

Retirement is a transition from work life to life after work.

Do you catch yourself looking out the window, dreaming of a day when your life is less harried, you have time to pursue your hobbies and the freedom to travel whenever you want? If so, early retirement may sound like a dream come true.

But early retirement isn’t as simple as it may seem.

The transition from a structured to an unstructured lifestyle can be unnerving if you are not prepared.

What is retirement?

Retirement is a transition from work life to life after work. Retirement is the beginning of a new stage of life. Work is only part of what you do as a person. Retirement means different things to different people. Retirement is not having to do something for money.

Retirement and the term “financial independence” are often used interchangeably. Both are achieved when you have enough savings, investment income, and/or pension income to cover your living expenses, and so you no longer have to work to earn income.

For some retirement simply means leaving their current job or profession - but they may wish to continue working in a different field. For others retirement means never working again.

Retiring early may be a dream, but how do you know when it's time to take the leap?

"In retirement, every day is Saturday."

Are you ready?

If you're 50 or older, it's time to start thinking about your exit strategy from the workaday world. The sooner you start, the more time you'll have to explore your retirement options and take any necessary corrective action. So are you REALLY ready to retire?

I mean you’re ready in the sense of being financially, socially and emotionally prepared to make the transition .

If you're not emotionally ready to quit working, you may not be ready to retire. Remember, both the big picture and the fine details of your financial and emotional states are important to consider when assessing your readiness for early retirement.

The Future Of Retirement: Life After Work?

Many people are unwillingly to make the lifestyle changes they would need to make in order to save enough to afford a comfortable retirement. s you near retirement you will have to make a lot of financial decisions that have a life-long impact.

One of the biggest decisions you will make is when to retire. Another is how much to spend in retirement.

In the end, retirement is what you make it out to be. What you want is a happy retirement, not just a retirement of "getting by". Achieving a happy retirement will take some planning and soul searching - and it will be well worth the time.

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To your healthy retirement