The Setup:

Being mentally ready to retire and financially ready are two completely different things. You might be prepared to call it a career but does your financial situation match your readiness? Let’s look at four milestones that might indicate you’re in a position to retire. Have you hit all these yet?

Click the timestamps below to skip to a specific topic in the episode.

The Combination and Key Points: 

When we work with clients, the most common thing they want to know is when they’ll be able to retire. That’s the goal, right?

The answer to that question relies on how prepared you are financially. Just because you want to stop working doesn’t mean you’re retirement ready.

While there will always be a number of factors that are unique to you, we found a USA Today article that laid out four milestones that might just indicate your financially ready to retire. The premise behind the article is once you’ve been able to meet each of these saving and spending milestones, you’ll be prepared to live on a fixed income.

We want to discuss the article a little further and provide our perspective on each of these milestones so that’s what we’ll do on this episode of Unlocking Your Financial Future.  How true is this sentiment that accomplishing these four things mean retirement is within your grasp?

  1. You can budget confidently.
  2. Having control over your spending.
  3. Having an emergency fund.
  4. Having no revolving debt.

Find out what Ben thinks about the article and why each of these four items is important for anyone’s financial success.

Thanks for listening to another episode of Unlocking Your Financial Future. We’ll talk to you again next week!

[2:33] – The topic today.

[3:00] – 1st milestone: You can budget confidently.

[4:00] – 2nd milestone: Having control over your spending.

[6:17] – 3rd milestone: Having an emergency fund.

[8:20] – 4th milestone: Having no revolving debt.

[9:58] – If you hit these four milestones, how ready are you for retirement?


 

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