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Are You Ready to Retire?

We have all fantasized about it: our feet in the sand on a beautiful stretch of beach with a cocktail in hand, or maybe on the back nine of a well manicured golf course having the time of our lives. The fantasy is our retirement of course! Unfortunately, for many, this fantasy is a long way from becoming reality due to lack of planning. Are you ready for your retirement years? Let’s look at the sure-fire signs that you are well planned and ready for your retirement years.

Signs You are Ready for Retirement . . .

  • You Have Crunched the Numbers – Let’s face it, a lot of what retirement boils down to is money-in and money-out. Have you met with a financial planner to see if your retirement savings and pension will cover your month-to-month expenses? Have you examined what your expenses will be and the type of lifestyle you would like to live during your retirement years? Have you examined your retirement portfolio?
  • You Have Paid off your Home – Obviously we all need a place to hang our hats, but living mortgage-free during retirement means you can cross that expense off your list or use what would have been that payment in other ways such as travel.
  • You Have Investigated Insurance – Healthcare can be incredibly costly, and early retirees should have a plan in place to cover health costs during the years after retiring and before becoming eligible for Medicare at age 65. Find out what type of plan you will be eligible for, especially if you have any underlying health issues.
  • You Have an Exit Strategy at Work – Leaving a career that you have dedicated your whole life to can be difficult. Have you made plans to hand over the reins? Whether you are a business owner or manager, planning the succession of your position is critical.
  • You are Emotionally Ready to Retire – Have you thought about what will keep you happy mentally, emotionally and socially after retirement. You really don’t want to retire and realize that working was what gave you purpose and drive. If you are not ready to call it quits then you are not emotionally ready to retire.

About Mike Sperling

Mike is the Founder and Director of Sperling Interactive. Mike’s keen eye for photography, extensive technology skills and innovative marketing ideas make Mike a leader in the website design and management field. He is proficient in html, css, php, javascript, MySQL and the Adobe Design Suite. Before founding Sperling Interactive, Mike worked his way up from staff photographer at the Eagle Tribune Publishing Company to the lead operator and manager of multiple websites for daily and weekly publications. Known as the “media guru”, Mike gathered years of experience before making the leap to start his own business. He graduated from Rochester Institute of Technology with a BFA in Photojournalism and a minor in Mass Communications. When Mike is not meeting with clients or designing new websites he enjoys spending time with his wife, Jodi, daughter Zoey, and son Camden. Mike enjoys hiking, geocaching, traveling, movies, the Baltimore Orioles & Ravens.