WAYS TO TELL IF YOU ARE READY FOR RETIREMENT

WAYS TO TELL IF YOU ARE READY FOR RETIREMENT  

 Retirement is more of a balancing act than a one-and-done decision. you have to know if you're ready before you actually do it. Some are well prepared for retirement with ample savings while others are nowhere near where they need to be. most have a sense if they are ready. overall, thought, it's important to note that a high percentage of household may not be prepared for retirement, the Risk Index Study found. Let's boil this down to some lenses to examine these findings. It's important to ask yourself these questions : 

1. ARE YOU BOGGED DOWN BY DEBT ? : If you're not paying off your credit cards every month or still have installment or college debt , that's going to stymie you from savings. You should be savings more than you are spending  each month.

2. ARE YOU NOT SAVING ENOUGH ? : How much is enough ? you should be socking away enough money to cover at least 40% of your pre-retirement income. Don't forget to calculate Social Security benefits, which you can receive starting at 62. The highest benefits is when you file at age 70. Use this free calculator to estimate your Social Security payments .