” question. There are many factors that influence your retirement decision, but the most important thing is to not let emotions get in the way of making a sound decision for yourself and your family.
Some people have a deadline to retire by such as age 55 or 60 so they will only consider retiring after those dates have passed. If you did this, then your financial advisor would recommend you begin planning for retirement at least five years prior to reaching these date ranges because there’s usually time for things like saving money and accumulating assets before age 55 or 60 arrives. You should also take into consideration that if you don’t plan ahead when it comes to investing in growth funds (funds invested predominantly in stocks), then you may find it difficult during retirement when markets decline due to the fact that all investments lose value over time; however, we often see returns on stock market investments grow year-to-year even during times of economic turmoil and low prices.
If instead you decide early enough (or just go with gut instinct) about when is best time of year to retire, one area where emotion can lead us astray is our rate of return expectations from investment accounts such as 401(k) plans and IRAs. It’s easy for even well informed investors who do their research on how much money they need per month based on their lifestyle needs — including expenses related to health care — can fall prey to unrealistic expectations about returns from these types of accounts. Our