Financially not ready to retire
When you look at your resources you may find that you will have to lower your lifestyle because you need to find some way to earn additional supplemental income.
In short, you need more money to do the things that you want to do. And your retirement resources are just not quite enough.
While you may not be expecting to live the same life style that you used to have when you were working, you certainly don’t relish eating at hamburger joints for a night out.
Also you’d like to stay in the old homestead too or at least the same city to be near relatives. Or if you do decide to move to a cheaper city or country, you’d like to be able to afford to visit your relatives whenever you want.
So you need to do something that makes more income and still gives you the freedom to “do your own thing”.
Emotionally not ready to retire
You are simply not ready to be put out to pasture. You may still feel young and healthy. And you really don’t want to take more naps, watch another dull TV program, and just play around with your hobby.
Your mind and body is just not ready to retire.
You want to be creative. You want to be active. You still have things that you want to do.
So what can you do for more income?
The next article will explore some options such as cutting expenses, selling some assets, making better investments, getting a job, and starting your own retirement business.
Meanwhile read The Joy of Not Working for more information on retirement.