It can be difficult for many people to decide when they want to retire. Although many are forced into retirement due to illness, caretaking responsibilities or losing a job, others are able to choose when they retire. The problem arises when you are resistant to the idea of ever stopping work for one reason or another.


The following are some signs that may suggest it is a good time for you to choose to retire.


You have conquered your fears


Choosing to retire is a big decision that should not be taken lightly. There are many common fears that people have that keep them from making that final decision to stop working to earn money. Retiring is not a guaranteed stress-free period of time with retirement bringing its own set of challenges which make many hesitant to stop working.


One common fear is the fear of not having enough money to maintain an acceptable quality of life during your golden years. The issue is when you retire you are not earning any income but you will still need money to pay for living expenses which means you need to use money stored in your savings, investments and other resources.


Others may be afraid of losing their life’s purpose or maybe just simply being bored when they stop working in their career. Regardless of what fears you have about retirement, you will need to conquer those fears before you know you are ready to enter your golden years.


Having a solid financial plan


You will not be ready to retire until you have a comprehensive financial plan to guide you through your retirement years. This plan should include how to allocate your money and

 resources to help ensure you can maintain your desired quality of life without running out of capital too quickly. You should structure the plan so that you maximize your retirement accounts, savings and Social Security benefits. A professional financial planner can help you to develop a plan that is right for your needs.


Plan how to spend your time


It is not rare for retirees to struggle with maintaining a sense of purpose once they stop working. Contemplating what you will do with your time during retirement can help make sure you are ready. This might include having a list of places you want to visit or friends and


family you want to spend time with. You can also plan to spend time on certain hobbies you may have neglected or even start new hobbies and activities. Also, volunteering for causes you believe in can provide you with a sense of purpose. Perhaps you want to focus on your fitness during your golden years.


Give us a call!


It is never a bad idea to obtain professional advice when it comes to finances, especially retirement and estate planning. There may be various strategies available to somebody in your particular situation that could help ensure you maximize your capital during your golden years. We at Rademacher Financial, Inc are experienced in creating a customized  strategy for your specific circumstances and retirement goals. Please give us a call and we will do our best to serve you!


The information contained in this blog does not purport to be a complete description of the securities, markets, or developments referred to in this material. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Rademacher Financial, Inc and not necessarily those of Raymond James. Expressions of opinion are as of this date and are subject to change without notice. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. Investing involves risk and you may incur a profit or loss regardless of strategy selected, including diversification and asset allocation. Past performance does not guarantee future results. Future investment performance cannot be guaranteed, investment yields will fluctuate with market conditions.