At this time of the year, there are lots of people telling themselves that enough is enough, and they throw in the towel by electing to retire from their jobs. But when they do so, I’m not sure many of them know how important this decision is to their lives afterward.

So this is my response to those who want to retire, don’t do this in haste, as it’s far too important to your life in the long run. You need to think cautiously on this matter, because failing to do so will not be just unwise, but also not a smart thing to do, at this stage of your life. If you are angry at me for saying so, listen to my points before passing judgment.

I’m making this plea to you to wait and don’t you dare jump to the gun in doing something as important as retiring before you are ready. You should think very carefully before you make the choice to go down this path because there are just too many people who have made this mistake themselves and I don’t want you to be the next one.

In other words, I’m advising you not to be in such a rush to leave your job where there is still a slight chance that you may regret that you did so. This mistake is often done by people who are not knowledgeable on all the matters that pertain being retired. You need to know that your entire life will take on a different challenge when you are no longer working. In not knowing all the pitfalls that are associated with having less money in retirement, you need to be fully aware of each of these points before you give your notice.

If you are upset about a situation pertaining to your job, because this can happen easily when you feel that you are no longer being appreciated at your job. I’m suggesting that you wait until you have calmed down before reacting so quickly on this issue.  Yes, I’m talking about deciding to call it quits from doing what you have been doing for so many years just because someone has you so upset that you just want to get out of there.

Now if the company is encouraging you to leave, that’s a different story entirely. If they are forcing you out, which many of the firms are doing today for their older employees, most firms will give you some form of financial package, as an incentive to leave. In this case, “TAKE THE MONEY”

Another factor is your health, if your health is not the best and you are having all sorts of difficulties trying to get to and from work, this indeed may be time to retire. Additionally, if you are working for a company where your medical expenses will be covered as part of your pension package, in that particular situation, you need to seriously consider the retirement option. As you can see, there are quite a few important issues that need to be worked out before you make this crucial decision.

However, if that is not your situation, one of the most common mistakes that people make, is to retire before they are ready, and that means they have not gone over every detail. Since I’ve retired myself, I have read numerous articles and have also gone to retirement seminars trying to get all the information that I can to share with you. I didn’t go through this thorough process myself when I left my job,  so I’m hoping that in providing this information of my findings, you won’t make the same dumb mistake that I did.

There are a lot of people who make this error in judgment, because they are not fully abreast of all the details that are involved when you say, “I’m out of here “. On the outside, it sounds good to tell your colleagues, friends, family members, and whoever will listen to you that you are retiring.  But in being honest, and the retirement statistics show that not many of us are actually ready for this separation from their jobs. Consequently, you need to know the consequences that are at state for giving up that regular paycheck, which you were so accustomed to receiving.

Another aspect is, these early retirees fail to realize that there is also a mental and financial consideration that has to be reconciled before you call it quits. Besides, determining what are you going to do after you retire, and what your every day is going to look like going forward? Since you have been working so long at your job, are you sure the emptiness won’t drive you crazy?

In other words, there are just too many people who leave their jobs of financial security for the wrong reasons.  I’m sure that you know some of them yourselves, as I know a few myself.  When you leave for the last time, this process shouldn’t cause an enormous hardship to you because if it did, then you must have missed something in your preparation process.

Additionally, with all the Social Security Bureau articles being published suggesting that it’s best not to retire until you are in the 70s, I can’t see why so many people are not following their advice. The social security administrators are making this plea to the public so that you can receive the maximum entitlement of funds at their scheduled retirement date.  But so many people are ignoring this warning and are still electing to retire before they are absolutely ready. The point is, throwing in the towel, is much more complicated than just walking out the door. When that door is closed behind you, your life will never be the same.

Plus, once you make this decision to leave, you can’t come back. Your employer moves forward or elects to replace you with someone else (they’ll hire someone younger and pay them less than you). To me, it’s imperative that you fully understand that point and that is why making this decision is so crucial. This is truly one of those life-changing decisions that can alter your lifestyle for the rest of your life. In doing so, it will have an enormous impact on what your lifestyle will be going forward so please do not take this critical step likely.

As a person who has been retired several years ago, I’m telling you that I have run into quite a few people who have retired before they were prepared financially.  In doing so, afterward they went through all sorts of hardships and I felt sorry for them.  Many of them confessed to me that they retired because it made them feel like it was time to do so. However, there was several of them that stated that if they had another opportunity to keep working, they would so without hesitation.

In retirement, I discovered that my medical cost was more expensive than I had projected. When I was working, the insurance cost for me and my family was affordable because I was used to getting the group rate discounts. When you are not working, these discounts don’t apply and you have to pay the regular cost. This situation also applies to getting life insurance for you and your family. The group rates we receive while working makes a huge difference in managing your budget.

And for the final point, you need to consider your income streams in retirement. I hope that you don’t expect your social security check will be enough to live on comfortably on because I’m telling you that it won’t.  If you don’t have some form of pension funds coming in to supplement your social security funds, you are not ready to retire in my opinion. Additionally, the cost of living expenses will rise faster than you realize, so if no extra funds are coming in, it’s just a matter of time that many early retirees have to go back to work.  The retirement specialist has stated that if you have to go back to work less than five years of retiring, you have probably retired too soon.

If I’m scaring you by sharing this information, I apologized for bringing you down. However, I want to alert you to the real deal points about leaving your job too early. I sincerely hope after reading this article, you will see why I feel so strongly about this topic.  So kindly take this message as a good gesture from me, and don’t you dare “RETIRE” until you’re absolutely ready, as this decision will have an enormous impact on you for the rest of your life.