Here is How to Tell if You are Ready to Retire

If you’re pretty darn sick of working, you may take that as a sign that you’re ready to retire. But, unfortunately, being truly ready to retire is about more than just desire. It’s about actually being financially ready, i.e. having the monetary means to retire and still live the life you want.

You’re Sticking to a Retirement-Ready Budget   

Sticking to a budget, any budget, is tough. Sticking to a retirement-stable budget is even tougher.

If you’ve been living, for at least the last three months or so, on a budget that is sustainable during retirement, and you have no reason to believe you couldn’t sustain that long-term, then you just might be ready to retire.

You’ve got a Nice Savings

Another major sign that you’re ready to retire is that you have a nice nest egg tucked away. We’re not talking go-shopping-on-a-rainy-day nest egg either. We’re talking live-for-six-months-to-a-year-easily nest egg.

If you’ve got that kind of savings, or better, backing you, you might be ready.

Your Financial Advisor Gives you the A-Ok

Finally, if you have a financial advisor- and you should- and that person has carefully examined your finances and given you the go-ahead, then you’re ready.

If you don’t have a financial advisor period, you’re probably not ready.

See, smart soon-to-be retirees realize that, no matter how well they’ve planned, they aren’t experts. And, because they’re not experts, they know that, if they want to live well in retirement, they need to trust their money management to an expert.

Once you’ve done that, achieving the nice savings and the livable budget we mentioned...and ultimately...achieving a comfortable retirement will be a lot easier.

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