What are your retirement plans?
Another crucial question is what you intend to do to secure yourself a comfortable retirement. You’ve been building your nest egg for this particular stage of your life. What you’ll be doing with your newfound freedom in retirement and the money you’ve been saving up to this point can make or break your golden years.
Why it’s important
If you envision retirement as a time to relax and enjoy life with family and friends, you might not need to struggle to put that much money aside. Similarly, if your intentions are to pursue a second career and continue having an income, you might not need to pour all your money into a 401(k).
On the other hand, your plans of starting a small business, investing in your passions, traveling, dedicating yourself to charity or ding anything else that requires money, might take a serious hit if you shave off a few years of your career.
