This episode of the Ready for Retirement podcast is the second part of four within a mini-series that answers the question “How do you know if you are on track for retirement?” In these four episodes, James outlines the four distinct questions that will ultimately help you know if you are on track.
In this episode, James answers this question: Have you had enough work? Some people think that there’s no reason not to retire if they have the money to do so. While you need to be prepared financially in order to retire, retirement is about much more than just giving up a paycheck. You want to make sure that you’re actually ready to give up your job and everything that goes along with it.
How can you know if you’ve had enough work? James explains four signs that you’ve had enough and are ready to retire: One, you consistently bring negative energy from work into your home life. Two, you’re too comfortable and aren’t challenged in your work. Three, you dread going to work in the mornings. Four, your work environment is toxic. And five, you feel physically or mentally unhealthy.
On the flip side, James also gives four reasons you might want to continue working for a few more years: One, if your work provides you with a sense of purpose. Two, if you have mentorship opportunities and want to invest in others or the company. Three, if you have good friendships with your coworkers and would miss seeing them five days a week. Four, if work provides a routine that you need.
If you’ve already determined that you’re financially ready to retire, this episode will help you decide if you’re ready to retire in other ways. Continue working if you feel that the benefits of working outweigh the benefits of retiring. But what should you do if your work isn’t providing benefits to your life? Tune back in to the third part of this series to find out!
Key Points:
- Do you or have you had enough work?
- Retirement is more than giving up a paycheck
- Don’t prepare so much for finances that you forget the rest of what you’re giving up
- How do you know if you’ve had enough work?
- You consistently bring negative energy from work into your home life
- You’re too comfortable and you’re not challenged in your work
- You don’t want to go to work in the mornings
- The work environment is toxic
- You feel physically or mentally unhealthy
- Reasons to stay at work beyond the paycheck
- Work provides a sense of purpose
- Mentorship opportunities
- Friendship with your coworkers
- Work provides a routine
Timestamps:
0:23 – Review of what was discussed in part one
1:20 – Do you or have you had enough work?
2:39 – Don’t prepare so much for the financial side that you forget what you’re giving up
3:42 – Signs to know if you’ve had enough work
4:00 – One: You consistently bring negative energy from work into your home life
5:15 – Two: You’re too comfortable and you’re not challenged
5:55 – Three: You don’t want to go to work in the mornings
6:21 – Four: The environment is toxic
6:55 – Five: You feel physically or mentally unhealthy
8:32 – Reasons to stay at work
8:44 – One: Work provides a sense of purpose
9:11 – Two: Mentorship opportunities
9:48 – Three: Friendship with your coworkers
10:32 – Four: Work provides a routine
12:10 – Stay if work benefits you
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