How to Tell If You're Ready to Retire
Though many workers look forward to retirement and the change of pace it typically brings about, deciding when to pull the trigger can be quite the stressful endeavor. Not only does retirement have financial implications, but it can affect your emotional wellbeing as well. Before you choose to retire, take some time to think about whether you're really ready to embrace this particular milestone.
Though you may be itching to leave your job and enjoy a more relaxed lifestyle, your plan could backfire if you're not financially prepared for what lies ahead. The Economic Policy Institute reports that more than 40% of baby boomers nearing retirement have absolutely no savings to show for. And of those who have begun building a nest egg, households aged 56 to 61 have a median savings balance of just $17,000.
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Source: Fool.com
