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Are you ready to retire?

Written by Marianne Heron with Paul Britton

Planning early helps achieve a smooth transition. This quiz will help you find out how ready you are and where you may need to give attention to your plans. The following are some of the elements essential to a fulfilling retirement. See how well you are preparing for retirement. Be truthful!!!

Try out this quiz

It will give an idea of where you may need to focus your planning for retirement.

It will also give you an idea of what this guide is going to cover.

Don’t worry if you get a lot of ‘No’s, you will do much better once you have worked through the guide. Perhaps come back and try it again later.

Decision to retire Yes No
Have you had enough and want to retire?    
Are you considering a transition period of working part time?    
Are you really excited about this major change in your life?    
Are you retiring by your own choice?    
Purposeful activities Yes No
Have you researched what you intend to do with the extra 2000hrs/year you will have?    
Have you found something totally inspiring and rewarding to do that matches your skills and needs?    
Do you have activities outside of your work that make you feel valuable?    
Do you feel that your self-identity is determined by your work?    
Personal growth Yes No
Do you intend further exploring something you have had an interest in?    
Fun and recreation Yes No
Do you participate in activities that bring you into contact with people outside of your work?    
Relationships Yes No
Do you have close friends outside of your work environment?    
Have you decided on possibly exchanging roles with your spouse/ partner?    
Have you agreed on times and spaces where you will be separate?    
A place to stay Yes No
Can you afford to continue living where you are?    
Have you a plan to carry out all major maintenance items to your home whilst you can afford them?    
Have you considered making your home energy efficient to reduce costs?    
Mental and physical health Yes No
Are you in good physical health?    
Are you following a health plan including diet and exercise?    
Do you have regular medical check-ups?    
Are you positive about life and the future that retirement holds?    
Sorting your stuff Yes No
Is your will up to date?    
Have you signed a Living Will?    
Does your family know where all your important documents are?    
Have you a plan to de-clutter and get rid of surplus possessions?    
Money Yes No
Have you received independent financial advice?    
Have you had an estimate of your potential income?    
Will you be able to maintain a good standard of living on this income?    
Have you compiled a joint retirement budget?    
Have you a plan to get rid of your mortgage and other major debt?    
Will you be financially independent?    
Have you had a trial run to see if you can live comfortably on your retirement budget?    
Your plan Yes No
Have you compiled a joint plan for your ideal retirement?    
Have you set written goals for what you want to achieve?    
Can you visualise what your retirement will look like?    
Bonus scores Yes No
Have you and your spouse/partner discussed all aspects of your plans for retirement?    
Have you received pre-retirement advice on the non-financial aspects?    
TOTALS    
 

results of the readiness check

This excerpt was taken from Rewire Don’t Retire, sponsored by Irish Life and Active Retirement Ireland. You can download the full guide HERE.