It's not a given that you'll ever feel truly ready to retire. But there are certain glaring signs that it may not yet be the right time.
If you're approaching your planned retirement date with, say, a $200,000 IRA or 401(k), it's a sign you may want to keep working.
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A small nest egg is better than none at all. But if you only have $200,000 in retirement savings, it means you'll probably be getting most of your senior income from Social Security. And you may want to work longer and save more to avoid financial struggles.
But it's not just your finances you need to pay attention to when deciding whether to end your career or not. It's just as important that you pay attention to how your job makes you feel.
If your job still excites you and you find it engaging, then you may not want to rush to leave it.
Retirement has a way of being more boring than expected. And it can be very difficult to go from full-time work to suddenly having a wide open schedule.
Of course, if you still love your job but don't have the physical energy to keep at it, then retiring may be your best move if you can swing it financially. But if you still get excited about going to work, then you may want to keep at it until those feelings change.
Or, see if you can work part-time for the best of both worlds. If your employer is willing to bend, you may find that a transition into retirement is the best thing for you mentally.
