Myth No. 1: Hold on to your job as long as you can! 

Retirement doesn’t necessarily need to be delayed as long as possible. It is good to continue doing things that bring you fulfillment. Hastily giving up your job may be a mistake. Only you can decide when you’re ready to move on to other opportunities.

Myth No. 2: Retire as soon as you can! 

There was a book written on how to retire at age 41. It was a true account of a man who retired at 41… but in reality, he ended up returning to work. If you begin a lifestyle resembling retirement before you’re ready, it can be a big mistake. Quitting your career too early may mean you’ll miss out on the most rewarding years of your working life. Retiring too soon may affect your feelings of worth and your financial stability. Only you know what’s best for you.

Myth No. 3: Retire when you’re fed up. 

Sometimes a job gets to be too much for you. An unreasonable boss, an unfavorable working situation or long commute can make you want to quit. But it’s better to wait until you’re prepared and your plans are in place. Even consider a job or career change—many people have successfully made them in their 60’s plus. Remember life isn’t supposed to always be easy. It’s wiser to stick it out or find a healthier solution, rather than quit before you’re ready.

Myth No. 4: Out with the old… In with the new. 

Retire and give the youngsters a chance? Don’t be influenced by others who may want your job. If you enjoy your work, and feel you’ve something to offer, age doesn’t matter. People retire from their late 40’s to early 80’s. Base your decision on personal needs, desires, and interests. It’s the only way to make retirement work for you.

Are You Ready to Retire?

Take the test from AARP (American Association of Retired Persons) on the next page and find out. To make this as helpful as possible, respond honestly and accurately.

Testing The Water

To evaluate your score, you need to consider several factors affecting your retirement. Even though an action may seem independent, they’re each part of the whole picture. You need to think about all the aspects of your situation.

Your Score

The categories are listed in order of importance in deciding if you’re ready for retirement. The money factor is more important then health, and so forth. Now add up the subtotals for your total score, and use the following schedule to determine how ready you are for retirement. If you scored:

• Over 100: Chances are you’re both realistically and mentally ready to consider retiring now. It’s a good time to discuss it with all the people involved.
• 80-90: Your decision is still up in the air. The advantages and disadvantages seem to balance each other. Maybe your own picture of retirement isn’t exactly clear or you haven’t put enough work into your retirement plan.
• Below 80: You’re not ready for retirement just yet. Evaluate your positions and alternatives in each area. You need to make better preparations and adjustments to be able to face the challenges of a change in lifestyle right now.

Getting The Water Ready

Before you dive into a pool each summer, you want to know it’s been properly cleaned and prepared. With planning and preparation, everyone can get ready to retire when the time’s right. Here are three suggestions to help you prepare and adjust so you’ll be ready for retirement:

1. Don’t let them retire you. When an individual feels they’re being “forced” to do something, it’s much harder. If you must leave a job, find another job that’s fulfilling. Don’t stop working until you’re ready.

2. If you choose to retire, regard it as the “ultimate promotion.” View it as a new phase of your career. Where you can earn greater satisfaction and rewards.

3. Be excited by the opportunity. Look at the positive aspects of retirement instead of focusing on the negative. The rewards can be endless if you’ve properly planned and prepared for your retirement.