Once again, Bruce Helmer, Financial Advisor and Founder of Wealth Enhancement Group, is here to answer any questions.

• Reason #1 You want freedom to pursue other passions

o Retirement doesn’t mean you’re done “doing”. It means you are done with the thrust of your career.

o If work feels like a constraint rather than fulfilment, it is a good time to consider retiring.

o Take a look at your retirement goals. Think about how long it will take to realistically get to them and decide if continuing to work makes sense.

• Reason #2 Your portfolio is ready

o Look at the amount you have in savings.

o Consider the predicted rate of growth. Give yourself some latitude for a market downturn.

o Look at your rate of withdrawal and consumption.

o Remember that you will like spend more in your first few years of retirement

o Don’t forget about taxes. You may have work to do to get your portfolio “tax ready”

o Don’t forget about healthcare.

• Reason #3 Your family is ready

o Children or parents don’t need assistance

o Your partner is on the same page, and you can afford to drop one income

o Be realistic. If your children are really struggling and you intend to support them, factor that in before you make your decision.

• Reason #4 – You are debt free

o You will be living on a fixed income, so being debt-free is ideal.

o If you have bad debt, taking a couple years to pay that off can safe you compounding debt in retirement.

o While a mortgage isn’t bad debt, if you are looking to buy a more expensive property, maybe reconsider if you are nearing retirement.

• Reason #5 - You have hit full retirement age

o Social Security full retirement age is 66-67

o The longer you wait, the higher your monthly payment.

o Medicare eligibility at age 65.

Everyone seems to think they have the key to picking the right stock. Peg is joined by Nicole Webb to discuss how to pick stocks in a way that keeps your financial plan first.