{"id":17856,"date":"2025-07-08T22:04:56","date_gmt":"2025-07-08T22:04:56","guid":{"rendered":"https:\/\/finderica.com\/?p=17856"},"modified":"2025-07-08T22:04:56","modified_gmt":"2025-07-08T22:04:56","slug":"3-signs-youre-not-ready-to-retire","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=17856","title":{"rendered":"3 Signs You\u2019re Not Ready to Retire"},"content":{"rendered":"
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Many people nearing retirement have an idea of how they want to live but aren\u2019t sure they\u2019ll ever be able to afford their vision. For them, the idea of a comfortable retirement \u2014 or any retirement \u2014 is far from a foregone conclusion.<\/p>\n

A recent survey on retirement readiness shines a light on the problem. Among respondents ages 60-67 and still working, only one in four believe they have saved enough for retirement. Those 45 and older estimated they\u2019d need $1.1 million on average to retire comfortably, but just 21 percent thought they\u2019d get there.*<\/p>\n

Afraid you\u2019ll fall into that category? If the three signs listed below sound familiar, it may be time to make some adjustments to your retirement planning.<\/p>\n

Here are the signs that you\u2019re not ready to retire<\/h2>\n

#1: You Don\u2019t Have Clear Financial Goals<\/h2>\n

Do you have your goals written down clearly? Are each of them specific, measurable, and achievable? You should be as specific as possible, so that you know whether or not you\u2019ll hit your target.<\/p>\n

Are your goals thorough, substantial, and meaningful? We can have easy, throwaway goals that don\u2019t really move the needle for us. But have you set your sights high enough that you\u2019ve really thought through what retirement is going to look like, that you feel like these are big enough goals that you\u2019re striving for, and that they bring meaning to you in retirement?<\/p>\n

Ultimately, what you have to end up asking yourself with respect to your financial goals is, \u201cWill achieving these goals give you the standard of living that you want in retirement?\u201d<\/p>\n

#2: You\u2019re Drowning in Debt<\/h2>\n

Do you have a pretty good sense of what kind of debts and financial obligations you\u2019re going to carry into retirement? If you have a lot of debt, it can take years to pay off, at great expense to you \u2014 and to your plans to retire. That\u2019s especially true for high-interest debt like credit card bills, which can get bigger and bigger the longer it languishes.<\/p>\n

That\u2019s a serious question because a lot of people don\u2019t take their debt into consideration. Have you thought about those pros and cons of paying off debts, maybe high interest credit card debt or debts that require a high repayment amount like a mortgage? There are pros and cons to paying those types of things off.<\/p>\n

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And next, are you\u00a0confident\u00a0that these obligations won\u2019t interfere with you being able to afford the retirement that you want? If you are under crushing debt, you might have to make some different decisions because it\u2019s going to interfere with your ability to afford the retirement that you want.<\/p>\n

#3: You Don\u2019t Have a Retirement Budget<\/h2>\n

Have you created a budget for your basic living expenses in retirement? Most of you know that there will be some expenses that appear in retirement and some expenses that will disappear in retirement. You want to be clear on not only what the gross is that you\u2019re going to be looking at for income, but how much of that is going to be taken by your basic living expenses.<\/p>\n

And I\u2019m not talking about downgrading your standard of living and living with the bare minimum; I\u2019m talking about just maintaining the standard of living that you have right now. What will that cost you? And how will those benefits change\u00a0over\u00a0time or those expenses change\u00a0over\u00a0time? You\u2019re going to find that many of your benefits get more and more expensive, and so you have to account for that in your retirement budget.<\/p>\n

And ultimately, how\u00a0confident\u00a0are you that this budget will allow you to maintain your standard of living in retirement? If you\u2019re like, \u201cOh gosh, there\u2019s all these things I hadn\u2019t thought of putting in my budget and how do I know how much my monthly expenses are going to be?\u201d Well then, you might have a little bit of work to do.<\/p>\n

It\u2019s never\u00a0too\u00a0late to start making course corrections that will make your retirement planning better. We host retirement training for federal employees all\u00a0over\u00a0the country. So, if you know just based on these three signs that you still have a lot of work to do to get ready, I would highly encourage you to attend one of our workshops<\/a>.<\/p>\n

*\u00a0\u00a0Source:\u00a0<\/em>2023 U.S. Retirement Survey, Schroders<\/em><\/a><\/span><\/p>\n

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\u00a0 Many people nearing retirement have an idea of how they want to live but aren\u2019t sure they\u2019ll ever be able to afford their vision. For them, the idea of a comfortable retirement \u2014 or any retirement \u2014 is far from a foregone conclusion. A recent survey on retirement readiness shines a light on the<\/p>\n","protected":false},"author":2,"featured_media":15495,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[348],"tags":[1362,788,2347,422],"class_list":{"0":"post-17856","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-retirement","8":"tag-ready","9":"tag-retire","10":"tag-signs","11":"tag-youre"},"_links":{"self":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/17856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17856"}],"version-history":[{"count":0,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/17856\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/media\/15495"}],"wp:attachment":[{"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}