7 Signs That Now's Not the Right Time to Retire

[SheilaT]

1. It all boils down to this:

Plan ahead. Very carefully.

I have a co-worker who has various health issues. Every so often she'll say she ought to just retire on disability. I gently try to point out to her that since she can still do her job (and she does it very well) she isn't eligible for disability. And then, some other day she'll say she won't ever be able to afford to retire. It's clear, from the two somewhat mutually exclusive statements, that she has only thought about retirement in rather general terms.

I'm just turned 64 myself, and I recognize that I should delay collecting social security until age 70, if I possibly can. But the temptation to start collecting at age 66 is very strong, although if I do that I will probably work for a couple more years.