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How To Be Retirement Ready

Updated on September 1, 2012


RETIREMENT READINESS CHECKLIST FROM MET LIFE


According to MetLife, there are 15 retirement readiness tasks within 5 categories to consider before thinking about retiring.

Let's examine them and then do your own question and answer worksheet to see if you're ready to retire.


Source


WORK AND RETIREMENT READINESS - ASK YOURSELF THESE QUESTIONS


  • Are you ready to fully retire or work part-time?
  • How much do you want to work in your retirement if at all and when?
  • Do you have skills that could help you transition to a new part-time job?
  • What employment opportunities are out there if you want to work part-time or full-time?
  • Are there alternate careers or part-time work you could do in retirement?



LEISURE AND ACTIVITIES RETIREMENT READINESS


  • What is the balance between work and leisure time if you have to decide?
  • List and think about your personal goals for retirement.


RELATIONSHIPS AND RETIREMENT READINESS


  • Think about how important the relationships are with your co-workers before you retire.
  • How will your retirement affect the relationship you have with family and friends, positively and negatively?


INCOME AND BENEFITS RETIREMENT READINESS


  • Determine the steps necessary to receive company, government or other benefits you are entitled to on retirement.
  • How will changes in the economy affect pensions, investments and retirement benefits?
  • Can you afford full-time retirement at this point in your life?\




PLANNING AND RETIREMENT READINESS


  • What factors are essential for you to have a satisfying, happy retirement?
  • Do you have an alternative plan should you suffer a considerable or unplanned setback in your retirement?


Take the test yourself and see what answers you come up with. If you're ready for retirement, then proceed full steam ahead.

If you're thinking about it, prepare yourself for what you need to be thinking about and how to achieve your retirement goals.

If you aren't worried about it in the slightest for some time to come, at least think about what you'll need to do in the future to be retirement ready.


Source


THINKING ABOUT RETIREMENT AND RETIREMENT READINESS


Evaluate your retirement plans and make sure they meet your demands for personal, social and financial changes.


METLIFE CONCLUSIONS ON RETIREMENT READINESS:


  • MetLife estimates that most folks who are ready for retirement have completed 9 of the 15 tasks.
  • People just thinking about it or do not feel ready have completed 3 of the tasks.
  • In a poll done by the institute, half of the people said they felt prepared for retirement while the other half said they didn't.


Just some things to think about when it comes to thinking about retirement time.

If you have more important things to contribute, please leave your comments below in the space provided.


Source

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    • akirchner profile image
      Author

      Audrey Kirchner 7 years ago from Washington

      Thanks for stopping by gr82bme - hopefully indeed!

    • gr82bme profile image

      gr82bme 7 years ago from USA

      Very good tips. I will share. I know many young people that will benefit from this.

    • akirchner profile image
      Author

      Audrey Kirchner 7 years ago from Washington

      Thanks crystolite - glad you liked!

    • crystolite profile image

      Emma 7 years ago from Houston TX

      nice information.

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