Do Your Research
Before retiring, have a solid grasp of how much you will spend each year. Then, develop strategies for using investment income and other sources to supplement pension and Social Security benefits. Think long and hard about how you will spend your days well before putting in your two weeks’ notice and leaving the workforce.
Anyone considering retirement soon might want to try semi-retirement first and explore fulfilling activities before calling it quits for good, said Kim E. Jones, a certified financial planner with Jones Strategic Financial Planning, which has locations in Broomfield, Colo., and Denver.
“It’s a good time to retire … if you feel ready to leave your job and if you have done a thorough financial analysis as to your ability to not outlive your money,” said Jones. “Deciding to retire should not be a ‘wing it’ decision.”
