Money lists as follows:
- Will I have enough income to support myself?
- What will I do with my time?
- Where will I live?
- Do I understand how my financial life will change in retirement?
My take on these:
- Yes. The first thing you need to know about retiring is how much you'll need to spend and if you can earn that much. This is also known as the .
- You may have heard it said that you should "retire to" something and not "retire from" something. In other words, if retirement is simply an escape from a terrible job, you're probably not going to enjoy it much. I have many interests and am thus busier in retirement than when I was working. The difference now is that I work on projects I enjoy.
- Where you live is an interesting question that you need to ask, but I don't think you have to ask it BEFORE you retire. We happen to live in a vacation spot already in a nice home and nice neighborhood, so it was an easy decision for us. That said, we may still move -- perhaps downsizing into an apartment sometime. But we can decide that in years to come.
- This last question is mostly a throwaway IMO. If you have done your retirement budget (discussed in question one above), then you already know this.
To me, this could have easily been titled "two questions to ask yourself before retiring" (the first two) and it would have covered the most important points.