How will I decide I am ready to retire?

After 40 or more years working, how do you know when is the right time to retire?  Is it based on your age 62,65,67,70 or does age have nothing to do with it?  Maybe you need to acquire a certain level of assets, one million, two million or even five million or more.  Is it based on my health which is deteriorating, and I want to enjoy what time I have left?  Maybe I cannot handle the stress or negative work environment I am in, is that what will push me into retirement?  I think it is all these things and more.  As we approach our late 50’s and early 60’s most of us start thinking about retirement and yes age, money, health, and job satisfaction all come into play.  In addition, we need to look at healthcare, long term care, caring for family members, and unforeseen expenses like home repairs, or vehicle repairs. Then we need to figure out how we will fill our days in retirement:  travel, take up a new hobby, spend time with family, volunteer for a charity, work part time in some less stressful job, even write a book!  Remember, this is your time so do things that bring you joy but having a purpose will help you live a longer and healthier life.

Written by:  Todd Rohrer, CKP®

These are the opinions of Todd Rohrer and not necessarily those of Cambridge, are for information purposes only, and should not be construed or acted upon as individualized investment advice.  Investing involves risk.  Depending on the types of investments, there may be varying degrees of risk.  Investors should be prepared to bear loss, including total loss of principal.  The strategies discussed herein are not designed based on the individual needs of any one specific client or investor.  In other words, it is not a customized strategy designed on the specific financial circumstances of the client.  However, prior to opening an account, Cambridge will consult with you to determine if your financial objectives are appropriate for investing in the model.  You are also provided the opportunity to place reasonable restrictions on the securities held in your account.