What are the signs that you should retire?

Still, sometimes retirement is the better option, especially if any of these signs ring true. You're disinterested in the job. ... Your health is suffering. ... You're burned out. ... Technology is causing you stress. ... You have no debt. ... You want to pursue a second act.

aarp.org - 7 Signs That Mean You Should Retire Now - AARP

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Retirement may seem untenable with inflation soaring and gas prices skyrocketing, but for some older adults, hanging on to their job can cause more harm than good. Sure, you still have money coming in, but at what price to your mental or physical health?

“In this economy, people are starting to worry that they don’t have a plan,” says Riley Rindo, senior wealth adviser and director at MAI Capital Management. “They are panicking and tending to hang on when they can retire and be perfectly fine.” The thought of retirement can be scary, especially when it can easily last 20-plus years. Staying employed for as long as possible keeps you socially connected and the cash flowing. Still, sometimes retirement is the better option, especially if any of these signs ring true.

1. You’re disinterested in the job

Work should give you a sense of purpose in addition to a paycheck, but for many people who have been there and done that for decades, it’s lost its luster. If going into the office or logging on for the day conjures up feelings of dread instead of joy, it may be a sign your job has run its course. That’s particularly true if it’s hard to get motivated at work or if you’ve become resentful of daily tasks. “If you are 60 or 62, a bad day at work can turn into your last day or work,” says Rindo. “Just being motivated because you think you have to work isn’t very productive.”

2. Your health is suffering

Most people have plans for their golden years, whether it’s traveling the world, moving closer to the grandkids, kicking back at home or starting a second career. Those dreams cost money, but they also require decent health. If your health is suffering and you can afford to retire, now may be the time to make the leap. Why wait until you can’t enjoy the things you worked hard to save for?

“Some people feel like they used up precious remaining years, especially if they have chronic conditions or a health shock they weren’t counting on,” says Matthew Rutledge, an economics professor at Boston College and a research fellow at BC’s Center for Retirement Research.

3. You’re burned out

Whether your job is physically taxing or requires a lot of brainpower, feeling burned out is a big reason older adults make the retirement leap. Working too much can cause stress, which can lead to all sorts of health issues, including an increased risk of hypertension, heart attack and stroke. A recent study published in PNAS, a scientific journal, found stress can speed up the natural aging process of the immune system in people of advanced age, increasing the risk of cancer, heart disease and infectious illnesses such as COVID-19.

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cnbc.com - Five of the 10 wealthiest cities in the world are in the U.S. - CNBC

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