Define your expectations
What will life be like in retirement? It's different for everyone. But understanding the common events, potential obligations, and emotional and financial considerations can help you decide when to retire and understand what to expect.
Take some time to reassess your lifestyle expectations and consider any changes you might want to make.
If retirement is not what you thought it would be, you're not alone. Researchers have discovered five distinct emotional stages of retirement.
Life-changing events can impact your financial situation. Having a plan in place can help keep your retirement on track.
Although you may have saved enough for your own retirement, aging parents or adult children may also rely on your support. It's important to be realistic about how much financial help you'll be able to provide as you plan for retirement needs.
While it's difficult to know exactly how long your retirement will last, weighing the benefits and drawbacks of retiring early or later can help you make a smart decision.
Retirement is about more than money. It's important to think about how you'd like to spend your time, where you'd like to live and who you'd like to spend time with as well.
Preparing for the emotions you might feel as you near and enter retirement is as important as preparing financially. Researchers have discovered five emotional stages of retirement.
Life-changing events can impact your financial situation. Having a plan can help keep your retirement on track.
As you save for retirement, you may also find yourself financially supporting aging parents or adult children. This requires careful planning and an understanding of how to address these issues with your family.
You might already have an idea of when you'd like to retire, but do you understand all the implications?
Giving some thought to how you might want to spend your time when you retire can help shape your choices now.
Research shows that most people start preparing emotionally for retirement when they are 15 years away from their retirement age.
Whether it's an illness, an inheritance, the loss of a spouse or the need to support a family member financially, preparing for the unexpected can help you keep your retirement savings on track.
Ameriprise Financial Services, Inc. Member FINRA and SIPC.