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5 Clear-Cut Signs you are Ready to Retire

  • July 29, 2021

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Are you constantly tired? Do you find yourself dreading work? If so, then it may be time to retire. Here are five clear-cut signs that you might want to take a step back from your career and think about retiring:

You Paid Off Your Debts off

Often, you will be ready to leave your workplace after getting rid of debt. However, you may want to put those funds into other ventures like starting up a business or investing in stocks. Whatever you decide to do with them, having no more debts hanging over your head can be an incredible relief and provide peace of mind for retirement.

You Have Ample Savings

Savings is part of financial planning for retirement because it means that your income can last as long as needed without worrying about running out or going broke. It also allows you to live whatever lifestyle suits you best—for example, travelling around the world every six months with no destination too far away from reach.

A good rule of thumb is that you should have at least one year's worth of living expenses in the bank, but it can vary depending on your income and what kind of lifestyle you want to lead when you're retired.

You Have a New Plan

It's common for people to have a different perspective on what they want their retirement life to look like after 35 years of work. If your mindset has changed and you no longer have an urge to climb the corporate ladder, then it may be time to consider retiring early.

Just because you've always wanted one thing doesn't mean that will still be true once you're older—especially if it is out of your control. The best time to make the decision is before you start feeling burned out or when there's no other option but retirement. Do not purposely let the years pass by, and you become the person looking back on life instead of someone who still has their whole future ahead.

Your Healthcare Is Sufficiently Covered

Healthcare is a vital component of retirement, and many people don't think about it until it's too late. Furthermore, it can be challenging to choose between retiring early with inadequate healthcare or delaying retirement for the sake of having enough coverage—especially if you're not sure how long your health will hold up before something goes wrong.

You Can Live On Your Budget

If you're able to save up and still have money left over at the end of every month, then it may be time for retirement. However, living on a strict budget that's barely enough for rent, food, electricity, water bills—just about everything else is just too difficult when dealing with the stressors of modern living. 

Your future self deserves more than constantly worrying about how they'll afford necessities like groceries or even their next car payment. Fortunately, you eliminate those worries before retirement; there's nothing but endless possibilities and opportunities.


Having savings is the ideal scenario for retirement because it means that your income can last as long as needed without worrying about running out or going broke.