Can I Afford to Retire Now?
Deciding whether you're financially ready for retirement is an intimidating and complex consideration. How is one to calculate just how much money is enough? Or gauge precisely whether you can truly afford to say goodbye to the daily grind?
These are particularly pressing questions given the recent revelations in a study from Principal, which showed that about three in 10 workers have concerns about not being able to retire when they want to. In addition, nearly the same number of workers said they've changed their projected retirement date or projected retirement age because of the pandemic.
As daunting as the retirement readiness question may be, it's one that most of us will have to address sooner or later. Of course, it is entirely possible to develop an answer to this question with some degree of certainty. To help you with the deliberations, we asked financial advisors and retirement experts to provide tips and guidance on how best to determine whether you're ready to draft a permanent "out of office" reply.