Ep 12: Are You Ready to Retire?

October 21, 2021

No matter who we work with, the entire goal for building a financial plan is to make sure someone is ready to retire. That doesn’t mean that the person will always leave work when they have the ability to, and there are a number of reasons that might be.

On this episode of the podcast, we’re going to talk more about this important question: Are you ready to retire? When you think about the answer to this, it really is two-fold. First, do you have enough money, and is your financial plan in a place where you can leave work and feel confident about your future? And second, are you in a place physically and mentally to transition to that next chapter in life?

People will have all types of answers for that question and it’s our goal to help them get into a position where they don’t have to worry about the financial side of things. For those that have the money and aren’t ready to stop working, that’s a great position to be in and one we see more and more.

The other side of the coin though is when we meet with someone that wants to be done working as quickly as possible. They would have retired yesterday if given the opportunity. But when we find that their finances aren’t in order, that’s a tough conversation but one that’s necessary to the bigger picture. Let’s go through it in detail and put a plan in place that can get you to retirement as fast as finances will allow.

And the final group of people that we find are the ones that are hesitant to retire because they aren’t sure if they have enough to last, but they usually haven’t built a plan or sat down with an advisor to evaluate their portfolio. Often times we find people in this position are actually in better shape than they ever realized and can retire sooner than they expected. Make sure you get a thorough assessment because you might be just be surprised at how well you’re doing.

No matter how you’d answer this question, however, it’s very important to know exactly where you stand financially.

Listen to the entire episode or skip ahead using the timestamps below.

0:40 – Preparing for the day you’re retired

3:03 – Fear of change

5:05 – People that are mentally ready but not financially

7:54 – Better off than you expected

11:30 – Are we ready to retire?

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