Map Out a Plan
Doing the prep work so you can stop working
The timing of your retirement date requires a balance between lifestyle desires and financial realities.
This section will help you think about some of the major decisions you face, starting with picking an official retirement date. Do you want to retire early or will it make more sense to delay retirement for several years so you can build up a little more financial security? Determining if you have enough savings to generate income throughout retirement and understanding age limits for benefits like Medicare are just two of the issues needing your attention. Your timing may come down to balancing lifestyle desires with financial realities.
When it’s time to actually resign from the workforce, you’ll want to understand which benefits you’re eligible for and how to maximize them.
It’s all in the plan
Start your retirement preparation well before the actual date so you can create a thorough and workable plan. The more prepared you are, the less stress you’ll feel as you make this rather momentous change in your life.