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  • Writer's picturePeter

Should I retire?

Updated: Jun 7

Caribbean Stingray Alley
Keeping afloat in Retirement

February 2023 I sold my financial planning business and retired, however this was not the first time I had retired.

Back in the day, and before I knew what I wanted to do with my life, I was a swimmer.

I loved swimming. I was good at it, passionate about it and at the time it gave me an identity amongst my friends, family and social circles.

But then after graduating high school I had a decision to make. I could either continue swimming or move on like all my school friends, going to university or starting their careers.

Ultimately the fear of being left behind, along with what I believed were limited career options of retired Olympic swimmers and to be honest being completely burnt out after swimming up to 10km per day, 6 days a week, always smelling of chlorine and not wanting to shower because it would involve me get wet yet again, was all too much for me.

So I pulled the pin. I retired and well I partied until I hit rock bottom but that's another story, before finding what became my life's passion and work, to be financial independent and help others achieve their own financial independence too.

I believe retirement be it early or later in life doesn't define us, it simply and profoundly helps us declutter our lives, so that we can have additional space and capacity to take on new things in life that are/have become important to us.

That said, I know that retiring or considering retirement from anything is a a big life decision.

Even when I already knew I had the financial resources to retire, it took me another five years of sitting on the fence, getting proverbial indecision splinters up my butt before I actually followed through.

So if you're considering retirement or stopping what you are currently doing, before starting something new ...

Here are 10 signs that might indicate it's time to consider retirement:

  1. Financial Stability: You have enough savings, investments, or retirement funds to comfortably sustain your lifestyle without relying solely on your job income.

  2. Health Concerns: If your physical or mental health is declining and impacting your ability to perform your job effectively or enjoy your work.

  3. Lack of Motivation: You've lost interest or passion for your work and find it increasingly difficult to muster enthusiasm or motivation.

  4. Work-Life Balance: Your job is taking a toll on your personal life, your relationships, happiness and you seek escapism as a way to deal with your work commitments family, hobbies, and leisure time.

  5. Career Milestones: You've achieved your career goals or reached a level of accomplishment where retirement seems like a natural next step.

  6. Burnout: You're experiencing burnout symptoms such as exhaustion, irritability, or cynicism towards work, and it's affecting your overall well-being.

  7. Social Network: Many of your peers or colleagues are retiring, and you feel a sense of readiness or alignment with their decisions.

  8. Longevity in the Role: You've been in your current job or career field for a significant amount of time and feel ready for a change or new chapter.

  9. New Interests: You have hobbies, passions, or projects outside of work that you want to dedicate more time and energy to exploring.

  10. Future Plans: You have clear goals or aspirations for retirement, whether it's traveling, spending more time with family, pursuing further education, or starting a new venture.

For me I ticked 10/10 of the above list and that me staying working was doing more harm to me than my fear of the unknown.

Today I'm approaching 18 months into my retirement. Travelling, skiing, writing, exercising and more are filling my days along with new opportunities.

And for those of you that have achieved financial independence i.e., already know how to swim; jump on in, the water is fine.

This post was written by Me, as such they are my personal views and not financial or general advice.

You should always seek independent financial advice when it comes to choices about your personal finances. This is one area of your life where it’s worth paying for it to be done right.

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