It may not feel like it, but the day will likely come when you retire. While a fulfilling retirement has different meanings to different people, there are a few important steps to take before finalizing your exit from the workforce and reduce your retirement worries.
The majority of Americans say retirement is their top financial concern. According to a recent poll from Gallup, 59 percent of people say they are moderately or very worried about not having enough money for retirement, which is down significantly from 67 percent just two years earlier. The next top concern, not being able to pay medical costs, worries 53 percent of Americans. However, many people overcome these obstacles.
Gallup also finds that the average age at which U.S. retirees actually retire is 62. That is up slightly from recent years when the average age hovered around 60, but Americans are retiring earlier than expected. In fact, Americans didn’t anticipate on retiring until 66 years old.
Let’s take a look at three critical steps you should take before taking the plunge into retirement.