Most people realize that they ‘should’ be “ready for retirement”. The challenge is that most people usually aren’t sure how to figure out if they are ready or how to go about getting ready for retirement.
There are a lot of questions to ask such as when should (or can) you retire, should you track your expenses and what kind of lifestyle would you like to have in retirement? Other common questions include “What sources of income will you have?” and one of the biggest questions – “How much can you put away now to prepare for the future?”
Another area to think about is your investment mix. Your investment mix is made up of your assets including stocks, bonds and other financial assets. Your investment mix and the return on your investments can substantially affect your retirement plan. Here’s where you also need to think about the amount of risk wish to take to reach your goals. You only want to take the risks necessary to give your plan the greatest chance of success.
We know you’d like the answers to these and other common questions about retirement. To help you find out whether you’re ready for retirement, we’ve compiled a list of Frequently Asked Questions we often hear, along with answers.