The theme for this week is the best age to retire. The timing of your retirement is one of the most important decisions you’ll make. Period. It’s a decision that has financial, psychological, and health consequences that could impact you for the rest of your life, so the decision about when to retire must be carefully considered.

I want to wrap up this week’s tips with a suggestion that might help you determine the best time for you to retire: test drive your retirement.

Not everyone will be able to do this, but if your job allows you to take a sabbatical, or downshift to 3 days a week, or work remotely for 3 months out of the year so you can spend winter in a warmer climate, this is the perfect opportunity to test drive your retirement plans.

If you own a business or are a senior executive, this is a great way for you to gradually shift responsibility to a successor and see how things go in your absence before you transition out for good.

A retirement test drive can help scratch the retirement itch by giving you more flexibility and free time, while allowing you to keep working in a career that you enjoy and are fulfilled by - a win win! A retirement test drive will also help you experience a pseudo-retirement lifestyle to help you determine if this is what you really want before you quit and buy one of those houses that you saw in Aruba on House Hunters International.

That’s it for today. Tomorrow, we’re going to recap the week and I’m going to give you a little preview of next week’s theme.

My name is Ashley Micciche and this is the One Minute Retirement Tip.

----------

>>> Subscribe on iTunes: https://apple.co/2DI2LSP

>>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs

>>> Check out our blog: https://truenorthretirementadvisors.com/blog/

----------

Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance, wealth management, best age to retire, retirement age, how to decide when to retire, what age do people retire, best age to retire for longevity, what is the best age to stop working