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Retiring on your own terms is the ultimate financial end-goal; however, deciding when to make that transition can be difficult. Money aside, you need to have the right mindset, and that means getting in tune with how you feel right now, as well as understanding how this change will impact your partner. Read the article from The Wall Street Journal below.READ THE ARTICLE
Mind over money: Here, you’ll find a series of questions to ask yourself to help clarify if it’s finally time to make that big leap:
📌As I anticipate returning to work every Sunday night, do I look forward to finishing tasks, seeing friends and colleagues, and learning something new? Or, do I dread another week of tedious tasks and difficult people?
📌Have I thought through my financial picture? What expenses am I prepared to cut if money becomes tight?
📌How do my already-retired friends, relatives, and colleagues feel about retirement?
📌Should I consider a gradual retirement with part-time work, or is “cold turkey” better for me?
📌Do I have hobbies or interests that will fill my time? Or, is there volunteer work that I’m passionate about?
📌What friends do I have now that don’t involve my career or partner?
📌What role is my partner playing in my decision about retirement?
📌Do my partner and I have similar ideas about travel or where we want to live in retirement?
Don’t shortcut yourself: It’s convenient to take the easy way out of anything in life, but asking the hard questions can make this transition more successful in the long run.