How do you know when it’s time to get on that white horse and ride off into the workforce sunset? For the majority of baby boomers born between 1946 and 1964, one of the hardest decisions to make is to when to make that transition. In the recent economy, making that decision has been even harder than ever. Here are few clues that you might be ready to retire.
You have to be able to afford it – Is your house paid off or close to being paid off? Do you have little to no outstanding debt? Have you been able to calculate your savings and income for your retirement? These crucial questions will be able to help determine if you have planned far enough in advance to live comfortably during your retirement. There are a lot of factors to consider, so be sure to speak with your financial advisor to help wade through IRAs, 401Ks, Social Security and other investments you may have.