You Are Ready to Retire, But Is Your Money Ready Also?
Posted in Wealth Building on October 9th, 2010 by admin
How you fund your retirement may be the most important financial decision you ever make. Even for those people who systematically save up in anticipation of their retirement can be overwhelmed with the particulars of making the transition as they get closer to their target retirement date. You can’t help but wonder, am I ready to retire? Consider these questions to figure that out.
1. What lifestyle do I want to live in my retirement years?
If you haven’t already started to think about how you want to spend your retirement years, now is the time to start figuring out your vision for your after-work years. It’s not as easy as just picking out a simple plan for those that want to start a new business during their retirement, or someone else who is committed to travel all around the world for the first five years, or another who wants to continue to work part-time. There is just no such plan that exists. A financial plan is only as good as the information it’s based on. Once you know where you’re going and how you want to spend your retirement years, you can start assessing different scenarios and appropriately addressing the financial shortcomings. Read more »