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Some people dread retirement, thinking that it will prevent them from continuing to build their wealth or result in them having nothing to do or look forward to during their golden years.
Others, however, have moments where they realize that retirement is the right choice for them and decide to leave work behind to slow down and enjoy their life.
But what does this look like?
Here are 15 epiphanies that helped people know it was time to retire.
#1. Someone in the Organization Died Suddenly
Death is an uncomfortable reality that many of us don’t want to face.
But for those who were at retirement age and witnessed the death of a coworker, this was a reminder that they could be affected at any time and should leave their job while they had the opportunity.
#2. “Anyone Who Says They Like to Work More Than They Like to Play Has Never Played”
This phrase indicated to someone that they needed to step back from work and take the opportunity to enjoy the fruits of their labor.
It was a choice that proved to be the right one as they experienced life through a new lens.
#3. Loss of Interest or Passion
Some genuinely love their job, and some become disillusioned by the work that they’re doing or are bored with the same responsibilities day in and day out.
Those who experienced a loss of interest or passion realized that it was time to move on and start a new chapter of their lives.
#4. Poor Mental Health
Poor mental health can take its toll.
Some people ended up retiring because they realized that they needed to take it easier to cater to their mental health, while others realized that their job was the cause of their poor mental health all along.
#5. Declining Physical Health
Declining physical health is a significant motivator for retirement as people realize they need to care for themselves and not spend so much time working.
No matter the physical problem, this has been a wake-up call that told people it was time to retire.
#6. Major Changes in the Industry
Many industries face changes, shake-ups, and other developments that result in whole organizations having to adjust and learn a new way of doing things.
For those who are older, making these adjustments can be too much work, leading them to retire now instead of trying to make a change that won’t matter now or in a few years.
#7. A Desire to Truly Live
Working takes up such a massive chunk of our lives.
Because this is the status quo and the system we’re born into, we don’t take time to second-guess things.
Some nearing retirement have finally realized, however, that it’s time to break away from that cultural norm and truly live their lives.
#8. Nowhere to Move Up or Lost Position
Not everyone has something to look forward to at work.
Whether it’s an epiphany that there’s nowhere else to go in their careers, or they got let go because of their age or internal company changes, they realized it was time to move to the next stage of life.
#9. Can’t Keep Up With Modern Work Demands
Over the years, the emphasis on productivity and increased output has resulted in greater responsibilities at work.
Some realized that they couldn’t keep up with these modern demands, opting instead to take advantage of the peace and quiet of retirement.
#10. Noticing How Happy Others Are
Nothing is more motivating than seeing how happy others are, with some prospective retirees seeing that the grass was greener on the other side and deciding to move there themselves.
#11. Making Less Money Working
While not always the case, some found they were doing less work than they would if they retired and took advantage of their retirement benefits.
If you’re not earning as much as possible, that’s a good incentive to retire.
#12. A Chance for Early Retirement
While others are unfortunate and lose their jobs, some work for organizations that encourage early retirement or offer golden parachutes to support employees who need to be let go.
When this was given, many decided to leap at the opportunity while it was available to them.
Best Retirement Calculators
Are you confused trying to understand how much money you need for retirement?
You’re not alone. It can be a complicated process. The good news is there are some simple calculators to use to make figuring out your number easy.
THE BEST RETIREMENT CALCULATORS
h2>How Much Money Do You Need For Retirement
Do you know the right amount of money you need to enjoy retirement?
Headlines tell you that you need $1 million dollars or more. But this might not be the case. Find out exactly how much money you need.
HOW MUCH MONEY YOU NEED FOR RETIREMENT
Best States to Retire
While these were the worst states to retire, what are the best states?
Here are the ones with the highest quality of life, affordability, and access to healthcare.
Dave Ramsey’s Investment Advice Is Bad For Your Wealth
Dave Ramsey offers a lot of great advice when it comes to getting out of debt and building a solid financial foundation. But when it comes to his investing advice, it’s not what will ensure you with the most money, and could leave you broke.
WHY YOU SHOULDN’T TRUST DAVE RAMSEY’S INVESTMENT ADVICE
Where to Retire on $150K
It sounds like a dream to retire comfortably on $150K but it can be done.
The catch is you have to move overseas.
But you aren’t moving to a dangerous destination.
Rather you are enjoying a beautiful location with a low cost of living.
Here are your best options.
BEST PLACES TO RETIRE FOR $150K
I have over 15 years experience in the financial services industry and 20 years investing in the stock market. I have both my undergrad and graduate degrees in Finance, and am FINRA Series 65 licensed and have a Certificate in Financial Planning.
Visit my About Me page to learn more about me and why I am your trusted personal finance expert.
