Signs You Are Really Ready To Retire

So when is the right time to retire? There's no one size fits all answer to this question, because it very much depends on your personal circumstances. However, there are a few things to consider that may help you to decide when the time is right for you. Tony details what information and circumstances you should be looking out for to know the right time has arrived.

 

KEY TAKEAWAYS

• Do you have enough saved up to provide for yourself in retirement? If not, you may need to work longer to ensure a comfortable retirement.
• Good health means you will be able to enjoy a longer retirement, however poor health will mean retiring sooner in order to enjoy your retirement while you are still in good health.
• Inflation is an important factor to consider for retirement. Rising prices can quickly begin to eat into your savings. 
• Consider when you want to retire and what kind of lifestyle you want after retirement.
• One way to find out if you have sufficient finance to create a suitable lifestyle after retirement is to create a retirement cash flow. This shows how much income you can expect to receive from various sources.

 

BEST MOMENTS

‘Do you enjoy your job or work? If not, you may be ready to retire sooner. On the other hand, if you love your job or what you do, you may want to keep working even after you reach retirement age.’

‘Inflation can also cause your living expenses to go up and this can lead to a reduction in your standard of living. Clearly high inflation can make it harder to save for your retirement.’

‘What is your attitude to investment risk because when it comes to investing there is always some element of risk involved. It’s important to understand your own attitude towards risk before making any investment decisions.’ 

 

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ABOUT THE HOST

Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.  

“Live For Today, Invest For Tomorrow”

 

CONTACT

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