Signs You’re Reaching the End of Your Career

Reaching the end of your career and making the leap into retirement can feel like a big, life-changing milestone. Retirement, without the obligations or routine of work, can open up new opportunities and possibilities for you and your family. The following are some signs that you’ve taken the necessary steps to begin this exciting new chapter.

You Have a Retirement Plan and Routine

Having a retirement plan in place is of the utmost importance when reaching the end of your career. A retirement plan can allow you to maintain financial security and stability throughout this next phase of your life—and a good retirement plan can mean you’ve also built in ways to keep yourself occupied, entertained, and engaged. If you’ve factored in the time and resources to keep up the hobbies, activities, and pastimes that make you the happiest—whether that means a weekly golf game, an annual vacation, or frequent visits with family and friends—you might be on the right track.

You’re Prepared Financially

Financial preparation is key when moving into retirement. Saving, investing, contributing to your employer’s retirement plan, contributing to an IRA, and being realistic about the income you’ll need to maintain your standard of living can all be signs that you’re financially prepared for retirement. You may want to consider any alternative sources of funding you have access to, such as a rental property or permanent life insurance policy, such as whole life insurance.

A whole life insurance policy builds cash value over time that you can borrow against for any reason. This can help you weather market downturns when you don’t want to withdraw as much from your tax-advantaged retirement accounts. It can also help you manage taxes.

You Feel Emotionally Ready

It’s important to check in with yourself and make sure that you feel emotionally ready to put your career in the rearview mirror and start enjoying life on your own terms. Some signs that you’re emotionally ready to retire include frequent thoughts of retirement, detachment or disinterest in the work that you’re doing, a desire to pursue personal goals, adventures, or endeavors that would otherwise conflict with your working life, a close circle of friends who are moving into the retirement stage, and a partner who is ready to enter into this next phase of life alongside you.

Thinking About Your Legacy

Lastly, you’ve likely reached the end of your career when you’ve deeply considered the legacy you’ll leave behind. Your legacy is specific to you and you alone, whether it be financial, in the form of traditions, knowledge, gifts, wisdom, or some combination of these.

If you’ve spent time reflecting on how your values and beliefs will be passed on to future generations, planning your estate and the transition of your wealth, and communicating your wishes to your family members, chances are that you’re more than ready to conclude your career and step gracefully into retirement.