We’ve all had days when we just didn’t think we could bear to continue working at our job. In the back of our minds we are secretly yearning for the day when we could tell our boss to take the job and shove it. This is especially true when you are close to retirement age. You know it’s just a matter of time until you can take that glorious plunge into freedom. But, is it going to be a glorious plunge or a devastating crash? The fact is, retirement isn’t for everyone. Unless you have some definite plans and goals about your future away from your job, you might be quite disappointed in retirement.
Even though you have a few days of dissatisfaction with your job, are you really ready to hang it up and retire? A lot of people have retired from jobs just to start a new career since they are happiest when they are working. Some people consider their co-workers as an extended family or best friends so retirement could be devastating for them. If your life revolves around your job, you will want to think long and hard about retiring.
Here are some questions you might want to answer before you make the decision to retire:
- What does retirement mean to me?
- Can I afford to retire?
- What should I do with my company retirement plan
- How much social security can I expect?
- Where do I want to live?
- What if I decide to work after I retire?
This is a thought provoking question that you need to answer honestly. Take some time and think this through before you answer.
Consider the fact that retirement could last several years when you are calculating what you might need.
Once you leave a job for whatever reason, if you have a defined contribution retirement plan at your company, you need to make a decision as to what to do with this retirement plan.
If you are like most people, you plan to work hard all your life and you want a comfortable retirement. While no one should rely on Social Security as their sole source of retirement income, it can be a nice addition to other retirement income.
There are five major things you might want to consider before making a decision on where to live after you retire.
Even though retirement is seen as a time to stop working, you might want to continue working well into your retirement years. There are some things you need to know if you plan to work after your retirement age.