Preparing for Retirement: Four Key Questions to Ask Yourself
- Janette Owens
- Mar 20
- 4 min read
Now that I'm nearly five years into retirement, I want to share a few things I've learned. If you’re nearing retirement or in a position to retire, go for it! Your mental health, family, and deferred dreams will thank you.
Before you retire, make sure you have your finances, emotions, physical health, and spiritual well-being sorted out. Here are four questions to consider:
1. Am I financially able to retire?
If you're comfortable living on half of your earned income, have little to no debt, and have additional income streams like Social Security, a 401(k), stocks, bonds, savings, or a spouse/partner's income, you're likely in a good position to retire. Mastering your "needs" versus "wants," establishing and sticking to a budget, tracking your expenses, and maintaining your savings will set you on the right path as long as you stick to it.
Conversely, it might be worth reconsidering your retirement plans if you find yourself buried in debt, struggling to pay bills, living beyond your means, or realizing you have more month than money.
2. Am I emotionally ready to retire?
You may be ready to leave the job behind if you feel a weight lifted when you’re not at work, are less irritable, and just feel more at peace overall. Imagine your life without the 9-to-5 grind. What does it look like? Does it have people, places, and activities that spark your joy?
Start planning how you want to spend your time in retirement, including your first day, and don’t hesitate to adjust your plan as you go!
Consider whether you can live without the structure and social interactions that a job provides. It was not an issue for me, but for some people, it is. Volunteering, working part-time, exploring hobbies, or pursuing educational or entrepreneurial goals can help you stay fulfilled and connected.
When I retired, I obtained my real estate license and sold my first home. However, I soon realized it took up too much of my time and caused more stress than anticipated. I decided to pivot and shift my focus to something that brought me immense joy: motivating and encouraging others.
3. Am I physically able to retire?
Only you, your family, and your doctor can determine the best course of action based on your health. If your job is physically demanding and you’re finding it difficult to keep up, it may be worth considering retirement. Discussing early retirement options with your employer is a good idea to ensure you don’t lose any benefits.
Also, staying as healthy as possible is important, especially as you retire. We are not as physically strong at 60+ as in our 20s. Stay active by joining a gym or walking club or taking up golf, pickleball, tennis, or anything that involves movement.
If you cannot work due to health reasons, explore your options. According to AARP, if you suffer a disability after filing for early retirement benefits, you may be able to switch to Social Security Disability Insurance (SSDI). Similarly, if you retire early but later discover that an existing condition might have qualified you for a larger disability benefit, you may be able to claim it retroactively.
4. Am I spiritually ready to retire?
Always consult God regarding your plans. One of my favorite scriptures is Proverbs 16:3: "Commit to the Lord whatever you do, and He will establish your plans." Pray and ask the Lord if it is time for you to retire, then listen for His response, guidance, and direction.
It’s important not to get ahead of God's timing.
Retirement should allow you to pursue more meaningful and purposeful aspirations. It opened the door for me to explore my “happy ministry," Be Inspired For Real, which is about encouraging and uplifting others to live their best lives in Christ.
Plus, not having to clock in every day allows me more time to nurture my relationship with Jesus. I can focus on my spiritual growth, connect with God's people, and create more space for the Word of God.
As you contemplate retirement, remember that this transition is not just about leaving your job; it’s about embracing new opportunities for growth and fulfillment. Take the time to reflect on your finances, emotions, physical health, and spiritual readiness.
By asking the right questions and planning ahead, you can prepare for a rewarding retirement that allows you to thrive and pursue your passions.
What are your thoughts on retirement? Share your experiences or questions in the comments—I'd love to hear from you!
Janette Owens is the founder of Be Inspired For Real and owner of Be Inspired For Real LLC. She loves everything inspirational and has spent most of her life inspiring and motivating others through humor, prose, exhortation, and God's grace. Janette is the author of A Swan Song, an intimate collection of poems and short stories. Janette lives just outside of Memphis, Tennessee.
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