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But not everyone can retire at that age, even if they want to.
Here are the big ones, according to experts.
Youve Got 2 or More Income Streams
In retirement, many people rely on Social Security.
If youve got that covered, you could be ready to retire when you want to.
Not to mention the reduction of financial pressure and mental and emotional stress.
Ask yourself whether or not you have anactual retirement income distribution and preservation plan.
Chances are youre going to need one.
Charlton gave several suggestions for what you should have figured out before retiring.
The first is knowing what your guaranteed income streams will look like when you turn 62 and beyond.
Again, plan to have enough income to last between 20 and 30 years.
verify you understand where those income sources are coming from and how theyll be taxed.
And dont forget to have a set monthly budget.
Your plan should also account for and control risks as much as possible.
This includes:
Last but not least, ask yourself if youve got a plan forhealthcare and medications.
This could mean creating a separate fund to cover these things.
Worst-case scenario, you have it when you need it.
Best case, you dont end up using it and have something more to leave behind for your heirs.
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