
By Meghan Murray
If you’re like most people, your work has been a central part of your life. So, wouldn’t it be nice to have the flexibility to decide when you no longer want to work?
Many people of retirement age have achieved this type of control. In fact, two-thirds of workers ages 65 and older say they work primarily because they want to, not because they have to, according to a 2021 study by Edward Jones and Age Wave.
But that means that one-third of workers in this age group feel financially compelled to work. This doesn’t necessarily mean they dislike the work they do — but it’s probably fair to say they would have liked the option of not working. How can you give yourself this choice?
You can start by asking yourself these questions:
• When do I want to retire? You’ll want to identify the age at which you wish to retire. You may change your mind later and move this date up or back, but it’s a good idea to have a target in mind.
• What sort of retirement lifestyle do I want? When you retire, do you anticipate staying close to home and pursuing your hobbies, or do you hope to travel the world? Would you like to spend your time volunteering?