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Sure, 2025 can be your year to retire.
But can it be your year to retire without soon going broke or putting your financial security at risk?
Can 2025 be the year you retirecomfortablywithout having to get a jobagain?
Well, it could not be.
Experts weighed in on eight signs youre totallynot ready to retire in 2025.
Youre Not On Top of Your Budget
The first sign youre not ready to retire?
Youre doing a rotten job at budgeting.
Spending and tracking your spending will be acutely critical in retirement.
But this plan probably wont work in retirement.
The income phase is radically different from the accumulation phase of life.
Thats why it is so critical to have an income-specific plan.
Retirement comes with complex tax implications.
Tax-efficient withdrawal strategies can significantly impact your retirement savings.
Its not unlikely that you wont be living on less money in retirement.
Can you handle your cost of living if your income drops?
Because your cost of living will not necessarily be dropping with it.
This is when people are most active, or when they want to travel to see their adult children.
This is a sign youre not yet ready to retire.
Thats not a path towards a satisfying retirement.
Thats very different from running away from something.
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