9 Signs You’re Ready to Retire (And 3 You’re Not Even Close)

Photo of author

Ready! Get set! Retire!

Well, once you’re confident that you have everything you need. But how do you know it’s time to say goodbye to the daily grind? Here are nine tell-tale signs that you’ve thought your retirement through and are ready to start the process—as well as three others that could suggest you aren’t.

1. You Can Fund the Retirement You Want

luxury tropical woman in blue hat
Image Credit: Deposit Photos.

Have you thought about what your retirement looks like? Knowing what kind of retirement you want, whether sailing around the world on a boat or enjoying quiet afternoons on the couch reading a good book, will help inform your budget. And if you have what it takes (money) to make it happen, you’re probably more ready than you realize.

2. You’re Fully Debt Free

Joyful Senior Couple Travelers Using Smartphone Application Navigation While Hiking in Nature Hiking Adventure Travel People Living Ac

Debt hanging over your head never feels good, but it’s doubly problematic if you’re retired. Settle your debts before you retire to get that extra sense of security.

3. You’ve Made a Retirement Budget

Made a Retirement Budget
Image Credit: istockphoto.com/fizkes

If you’ve planned your dream retirement, hopefully, you’ve also made a budget for it. If you still don’t know where your money will go, it’s wise to wait until you do.

4. You Have a Healthy Emergency Fund

Emergency Fund
Image Credit: .istockphoto.com/designer491

Expense the unexpected: a well-fed emergency fund is crucial to having a comfortable retirement. Without it, you could land yourself in some tricky financial situations down the line.

5. You Understand Social Security’s Role in Your Retirement

Social Security
Image Credit: istockphoto.com/mphillips007

How does Social Security fit into your budget? Do you have a good idea of how you’ll allocate these funds? You’re on the right track if you’ve already thought about these things.

6. You Aren’t Supporting Kids or Parents

older couple on beach
Image Credit: RossHelen

An empty nest is fit for retirement. Anyone still supporting kids or parents will likely need the stable income of a full-time job, so there’s a good chance retirement won’t be feasible until something changes,

7. You’ve Hit the Full Retirement Age

man in blue jacket pink background
Image Credit: Deposit Photos.

Here’s a more obvious sign: you’re ready to retire because you’re eligible! Truthfully, few other things on this list matter if you technically aren’t eligible to retire.

8. You Have Options to Make Money As Needed

Tips for Improving Your Manners: Holding the Door
Image Credit: istockphoto.com/Georgijevic

Keeping your options open during retirement is essential, but it’s just as crucial to have those options available even before you retire. That way, you aren’t scrambling to make cash on the side; you always have an avenue to make extra money when needed.

9. You’ve Hit All Your Career Goals

older woman in red jacket
Image Credit: Jeanette Dietl/Sutterstock

Did you beat the game of Life? If there’s not much left you want to accomplish at work, it’s time to savor your victorious career and rest easy, knowing you gave it your all. But if you feel like your work is unfinished, maybe you want to meet those goals before you fully retire.

Are You Really Ready?

old bearded man
Image Credit: pixelshots | Canva

Even if you feel confident about a few of these signs on the list, the three below tell a very different story: maybe you’ll want to wait and settle some things before retiring.

1. You Haven’t Redone Your Portfolio With Retirement in Mind

collaboration people portfolio for b2b marketing agency
Image Credit: istockphoto.com/katleho Seisa

Your portfolio should reflect your retirement goals. Peruse your options and speak with an advisor to move things around if needed – this is an absolute must if you want to retire with peace of mind.

2. You Don’t Know What You’ll Do With Your Extra Time

Man drink alcohol
image Credit: .istockphoto.com/sturti

If you can’t envision yourself retiring, then you’ll have a hard time filling your days. First, decide how you want to spend your retirement. There’s not really a wrong way to spend your time – you throw yourself into passions or just laze about relaxing and spending time with family. But you probably won’t do much if you don’t pick something ahead of time.

3. You’re Struggling to Cover Living Expenses

checking her energy bills at home
Image Credit: istockphoto.com/Eleganza

Struggling with living costs is a reality that many people will experience at some point in their lives. However, if that point is now, retirement should probably be at the absolute bottom of your priority list. Focus on getting your finances above water as much as you can. Because if you think you are having a tough time with living expenses now, it certainly won’t get easier when you retire.

Here Are the 5 Best (And 5 Worst) States to Retire

retired couple enjoying coffee
Image Credit: Canva Pro.

If you’re looking to retire, you may wonder which state is the best place to do so. There are many factors to consider when making this decision, including the cost of living, climate, taxes, and healthcare. In this article, we will discuss 5 of the best states to retire in the US and five states to avoid!

Here are the 5 Best (and 5 Worst) States to Retire

Want to Retire in Texas? Here Are the 5 Best Big Cities to Consider

happy old couple
Image Credit: DAPA | Canva

Among the thousands of people moving to Texas each year, many retirees choose small towns across the Lone Star State to settle down and enjoy their golden years. But the largest Texas metro areas offer access to an unparalleled range of activities and highly-rated healthcare facilities, all easily accessible from budget-friendly in-town neighborhoods friendly to seniors. 

To help you decide if big city life in retirement is right for you, we took a look at what makes five of the largest metro areas in Texas popular among their residents and attractive to seniors.

Want to Retire in Texas? Here Are the 5 Best Big Cities to Consider

Early Retirement? Here’s How to Make Your Dream a Reality

couple by pool on vacation
Image Credit: Canva

We asked dozens of financial professionals and educators to offer their insights and tips to help us learn what actions we should take today and in the future in order to retire early with enough money to last a lifetime. Here, you’ll find their words of wisdom covering topics ranging from saving and investing to choosing where you will live to make your money go further.

Early Retirement? Here’s How to Make Your Dream A Reality

This article was produced by Our Woven Journey.

Website | + posts

Karee Blunt is a nationally syndicated travel journalist, focused on discovering destinations and experiences that captivate and inspire others through her writing. She is also the founder of Our Woven Journey, a travel site focused on inspiring others to create memory-making adventures with their loved ones. Karee is passionate about encouraging others to step out of their comfort zone and live the life they dream of. She is the mother of six kids, including four through adoption, and lives with her family in the Pacific Northwest. You can learn more about Karee on her about me page.