Today was rough — your boss yelled at you, your co-workers are as evil as ever, and you’re facing a two-hour commute home. Your lunch break has barely begun and you’re already daydreaming about going home and getting in your bed so that you can forget this horrible day. As you go through your work day, visions of retirement are dancing in your head. However, if you don’t have the financial resources, your dreams won’t become reality anytime soon — you’ll just have to tough it out until you scrape together enough cash to make your escape. Are you on track to pack it up for good? Unless you get a few key goals in order, you’ll have to keep daydreaming for now (and working, of course). Here are some signs you’re just not ready to retire. Sorry.
1. You don’t have a financial plan
Despite what your co-worker said, the retirement fairy isn’t a real thing. Don’t think you’re just going to fall into a comfortable retirement after years of not planning for — or even thinking about — your golden years. Everything won’t just come together at the last minute, particularly because it generally takes 30 or more years to save enough money. Sure, you could win the lottery, but you could also face a financial disaster that sets you back. It’s best to prepare for the worst.
If you’re not sure how to begin the retirement planning process, make an appointment with a certified financial planner. He or she can help you learn what you need to do to reach a realistic retirement goal. A financial planner can also help you figure out how much money you’ll need in total to retire comfortably, and you’ll receive assistance with developing a way to save the money you need. There are also several retirement tools that can supplement your work with a financial planner.