Tired of the daily grind? Early retirement may sound like a dream solution, but before you take the plunge you need to plan carefully and be sure that it’s a viable option. After all, you’ll need an income for those years when you really can’t work anymore. To help you make the best decision, here are some things you need to consider.
1. Are You Really Ready to Retire?
On the flip side, if you're very much looking forward to this time, follow these 20 tips to get on track to retire at 50.
2. Are You Ready to See Much, Much More of Your Partner?
3. Will Your Retirement Income be Enough?
And if you need a cheaper place to retire, check out 10 great places where you can retire for under $2000 a month.
4. Have You Considered Taxes on Your RRSP?
5. Do You Have Alternate Sources of Income?
6. Will Your Employer Allow You to Come Back as a Consultant or Mentor?
7. Are You Missing out on Free Money?
Related: 17 ways you're shamelessly bleeding money.
8. Would You Be Willing to Downsize Your Home?
9. Would You Be Willing to Relocate?
10. Could You Leave Canada Behind?
Consider one of the top 20 best places for Canadians to retire around the world.
11. Could you Cover Increased Medical Expenses?
12. Do You Have Debt?
For more retirement tips, don't miss the 12 costly mistakes that can ruin retirement.