Are you ready to retire?

Ten questions on the parts of retirement that are easy to postpone.

This quiz is educational and not personalized advice.

Question 1 of 10
Do you have a written plan for where income comes from?Not yetSomewhatYes, in place

Question 2 of 10
Do you know what you actually spend in a year?NoRoughlyTo the dollar

Question 3 of 10
If you stopped before sixty-five, is health cover sorted?Not looked at itSome ideaYes, costed

Question 4 of 10
Have you compared claiming Social Security at different ages?Not yetSomewhatYes, in place

Question 5 of 10
Do you hold money in more than one tax treatment?Mostly one typeTwo typesTaxable, deferred and free

Question 6 of 10
Do you have cash set aside for the first years, so a bad market does not force selling?Not yetSomewhatYes, in place

Question 7 of 10
Are the will, powers of attorney and beneficiaries current?Not yetSomewhatYes, in place

Question 8 of 10
Have you thought through how care later in life would be paid for?Not yetSomewhatYes, in place

Question 9 of 10
Will the mortgage and other debt be handled by the time you stop?NoPartlyYes

Question 10 of 10
Do you know how you will spend the first year?Not reallySome ideasYes, clearly

Your result

Not started

The pieces are not yet joined up, which is the usual position and a very fixable one. The order matters more than the speed: spending first, then income, then tax.

Work out what you actually spend in a year
Put the income sources on one page and see what they cover
Bring the estate documents up to date

Documents in place

Most of the structure is there. What is usually left at this stage is timing and tax: when to claim, what to draw first, and how to bridge to sixty-five.

Compare Social Security claiming ages against your own numbers
Set aside the first years of spending in cash or short bonds
Check the mix across taxable, deferred and tax-free

Ready

On these measures you are in a position to choose your date rather than have it chosen for you. The work from here is maintenance and tax sequencing.

Set a withdrawal order and review it each year
Confirm the health cover plan for the gap years
Revisit the estate documents once the date is set