1. Are you ready to stop working? Even though you’re eligible to retire, you may not want to stop working. Decide if you want to stay with your full-time job or look for a new or part-time career, or simply not work at all.
2. What do you want to do when you retire? You may, as we mentioned, want to spend at least part of your time still working. But you may also have dreams of spending your Florida retirement years playing golf, swimming, pursuing new hobbies, taking classes, volunteering, traveling or enjoying other activities you haven’t had time for before.
3. Have you thought about how retirement will change your life? You’ll have free time you didn’t have before—time to do things, to spend with loved ones, and so on. Retirement can also have an impact on your relationships. Think about it and talk with your family and friends so you have a clear picture of what your life is going to be like. It’s important that you and your spouse have similar expectations of this major life change.
4. Are you financially prepared? Take an honest look at your economic situation and besure you can afford the lifestyle you want. It’s not enough to just be able to pay your bills when you retire; you should factor inflation over your anticipated lifespan, the possibility of unexpected expenses, and funds to do those things you’ve always wanted to do, such as the ones we mentioned in question 2. Then consider if your savings, investments, pension(s) and other resources will be enough.