6 Signs That Show You Are Ready To Retire
Quitting your job in the early 40s isn’t something that ever crosses your mind when you are under 30. For most people, retirements are well thought of when one knocks 55 or 60. Oftentimes, though, there could be positive signs that you are ready to quit your job once and for all, and then go home for retirement. But how do you know you are ready for this anyway? Here are 6 signs that likely prove you can retire, even now.
1. You Are Emotionally Ready For Retirement
The tradition in many workplaces is that an individual quits after they turn sixty-something. More often than not, many people who work so hard, even past 60, are not always l ready to quit, either because they are emotionally attached to the company or because they rely on employment as the major source of income. At the same time, however, it is easy to retire if you are emotionally ready. If you have a feeling that it is time to say goodbye to office for the sake of something else you believe to be ideal, much as your job was, then nothing should stop you from making the decision.
2. You Have A Fast-Growing Home Business
If you started a business and it is growing too fast, it may be hard to keep your day job and run the business at the same time. Sure, you have to quit one for another. And the easiest option to pick is often your thriving business. In the heart of it all, the decision to retire early to take care of family business should be based on the growth metrics of your business, rather than a try-and-error kind of choice.
3. You Have a Lot Of Savings
The biggest problem with so many people in the society today is the inability to save when they are young. It is easy to come by someone who’s above 45 years of age but have never saved money at all. Such people aren't always ready to say goodbye to their jobs. They may have to stick around for a while, work hard, and save for the future for the next couple of years. But if you are the kind of person who has a lot of money in saving, say $7,000,000, and then it is highly likely that you are ready for retirement. Of course, this is a lot of money, which you can invest even further and make more money for you and the family.
4. You Have Your Own Home
If you already have a house of your own, it might be a sign that you are ready for retirement. To be honest, paying rent is one of the reasons why you work so hard. You want your family to live a better life without worrying about mortgage fees. But then again, it is possible to buy your own home or build one yourself, and then you never have to worry about monthly leases ever again. And when you have done this, you almost always don’t have to worry about anything; your family already have a permanent shelter that only you and them can control. You can spend your money on other things like lust for travel and cravings for adventure.
5. Your Children Are Independent And Financially Stable
Are you still doling out money to your kids? It might not be the best time to quit your job just yet. But if you have children who are financially stable and fully independent, you can stop worrying about them and let them start worrying about you instead. Of course, nothing is impossible in the ideal world.
6 You Are Single, Never Married Before, And Are An Entrepreneur
The only thing you will ever worry about is how to close the next business deal. You can channel all your money to your business and grow into a billionaire in the next five years without doling our cash on anyone.