Time To Retire Or Time For A Vacation?

Surveys—and probably the people around you—say that it is difficult to really understand what life after retirement is like. How can you know if you are ready to take this major step? The question may cross your mind when you celebrate your 60th or 65th birthday, during a business meeting where you are one of the oldest participants, during a period when your health is fragile, or after having determined that it is no longer financially worthwhile to keep working. Whether you like it or not, the question will eventually come up!

Stay, slow down or retire?

You have to weigh the pros and cons. What will you do with all the free time? The thought of losing your status as a professional and the related financial security, and missing the challenge of work-related projects and the company of close colleagues are certainly factors to consider when thinking about retiring. However, there is always the lure of finally being able to do what you really want to do!

Transition

Before taking the plunge from salaried worker to retiree, why not try something in between? This may be:

• Working part-time;
• Retiring but working as a contract worker (picking and choosing the projects that suit you and your schedule);
• Mentoring;
• Taking a summer or winter off.
  

The idea is to help you decide whether you are ready for retirement or just looking for a shorter workweek or longer vacation.

There is no right or wrong answer to this question. You have to find what works for you. When you think you have found the answer, ask yourself if it is feasible, if you have the financial means, if it will keep you busy, if a long vacation would be a better solution to re-energize yourself and rediscover the joys of working, or if you are simply ready for full-time retirement!

You get the picture: retirement, no matter what form it takes, is a process that requires planning. Do not make this decision alone and, above all, be sure to discuss it with your loved ones and your advisors. They will help you get a clearer picture of the situation and may give you some good ideas.

Your made-to-measure retirement is waiting for you!