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7 Signs You Are Ready For Retirement

Posted August 30, 2022

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Retirement is a big decision, and it’s hard to know when it’s the right time for you. If you’ve been wondering whether or not you are ready to take this next step in your life and officially retire, the Thayer Financial team has put together some tell-tale signs that you are ready to retire.

7 Signs That You May Be Ready to Retire

You’ve Reached Social Security Eligibility (aka Retirement Age)

First, you’ll know you might be ready for retirement once you reach “retirement age.” Whether you’re looking to retire early at age 62 or plan to wait until you can earn your full Social Security benefits, reaching retirement age is the first step in making this decision.

Your Spouse Agrees

If you are married, retirement does not only affect you, but it affects your spouse as well. If you are wondering whether you are ready to retire, you must have that conversation with your spouse. Retirement will affect how you spend your time, your finances, and your plan.

Work Feels Like It’s In The Way

For 40+ years, you have been working day-in and day-out to put food on the table, build your savings and create a life you love to live. If you’re at the point where work feels like it’s in the way, where you get the “Sunday Blues” and dread going into work on Mondays, where you feel like life with your family is passing you by— it may be time to retire.

You’re Out of Debt

Retirement will change how you spend your money and make you assess your finances differently than you ever have. If you still have a significant amount of debt tied to cars, your home, or credit cards, it may be wise to hold off on retirement to bolster your savings.

You Aren’t Caring for Kids & Aging Parents

Have your kids grown up and left you with an empty nest? Are you caring for aging parents? These are two important questions to consider when you’re considering retirement. If you are still providing for children in your household and looking after your aging parents, it may not be the right time to retire, as these situations can bring unpredictable expenses.

You Have A Plan

One of the most important things to do as you prepare for retirement is to decide how you will spend your time. You may not think you will get bored during retirement, but it happens to everyone. Deciding how you will spend your time will benefit your mental health and help you enjoy your retirement to the fullest.

You’ve Crunched The Numbers

One of the worst things you can do is retire without sitting down and looking at your recurring expenses. How much do you need to support the lifestyle you want? Factor in your groceries, electricity bills, and other utility payments, and then add in some of the adventures you want to take and the unexpected curveballs life may throw at you. It’s crucial to create your retirement budget and understand your financial situation before you decide to retire.

Are you resonating with any of these signs? Did you find yourself saying, “yep, that’s me!” as you read through this? If so, it may be time to reach out to the Thayer Financial team to create your retirement plan.

Thayer Financial is ready to advise you on your retirement options from the perspective of comprehensive financial planning. As financial advisors in Hickory, North Carolina, Thayer is your dedicated resource for fee-only, fiduciary advice. Schedule an appointment or call us today.


Thayer Financial, L.L.C. (“Thayer Financial”) is a registered investment adviser offering advisory services in the States of North Carolina, Tennessee, Texas and in other jurisdictions where exempted. Registration does not imply a certain level of skill or training. This website’s presence on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute. Follow-up or individualized responses to consumers in a particular state by Thayer Financial in the rendering of personalized investment advice for compensation shall not be made without our first complying with jurisdiction requirements or according to an applicable state exemption.

All written content on this site is for information purposes only. Opinions expressed herein are solely those of Thayer Financial, L.L.C., unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to other parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.


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