If not now, then WHEN?

Are you eligible for retirement now but just can't decide if you should do it?

Are you waiting for a buyout?

Let's face it -- deciding when to retire is right up there with other major life choices like which college to attend, who to marry and where to live. I've been retired almost 5 years and while I still miss the social side of work, I certainly don't miss working in an office setting, nor the petty politics. But "when to retire" is on my mind today because a good friend of mine is facing that decision now.

If she stays one more year, she'll get about $200 a month more plus a larger lump sum, so she's leaning toward that additional financial gain. I did the same thing.....I worked a year longer just to get an extra $125 a month. Big mistake! During that year, I developed some major health issues due to my stressful job. I wish I had a 'redo' on that decision.

More importantly though, the primary question my friend has to ask herself is:
WHAT AM I RETIRING TO?

So, I challenge you working readers to think about your answer to that question and use it as the basis to plan how you'll spend your time in retirement.

For another perspective on when to retire:
http://www.fool.com/personal-finance/retirement/2005/05/12/teaching-yourself-to-retire.aspx

For more info on when to retire, read "ARE YOU READY" at:
http://myretirementadventures.blogspot.com/2008/11/are-you-ready.html