The “someday” you’ve been planning and saving for is today. It is time to retire. You may be feeling ready and excited, or you may be feeling overwhelmed and unsure. All of these emotions are completely normal as you are about to undergo a major lifestyle change.

What should you expect from this new chapter of life?

Every person transitions into retirement differently. For some, it is easy to jump into a life without work and filling time with new passions. For others, it can be difficult to find structure and develop a new routine.

Unfortunately, I can’t predict how each person will adapt to the retirement lifestyle. I can, however, provide some ideas about what happens when you’re ready to retire and what to consider before making the transition.

You Can Afford to Retire

If you are about to make the leap into retirement or early retirement, I am assuming your bank account can support it.

The first, and most important thing to consider before leaving your job is your finances. Your financial plan – saving, investing, tending to retirement accounts – should sustain you through retirement. Confirm you can actually afford to retire.

Your retirement budget should not only cover your cost of living expenses, but also healthcare costs and unforeseen circumstances. Today, people are living much longer. It would be horrible to outlive your retirement budget because of poor money management. Plan for enough financial padding to withstand a long and healthy life.

You Can Find a New Passion

Financial plans aside, you should also have a plan for your day-to-day retirement lifestyle.

Consider how you will provide structure without having a job. What can you do to live a meaningful life? Again, this is different for every person. I urge you to find a passion outside of your career. This is the time to do something you’ve always wanted to do and never had time for. Take up a new hobby, travel, cook, anything that you leaves you feeling fulfilled each day. Whether that’s reading, (here’s some great investing books) exercising, or traveling. Do what makes you happy.

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