Retirement Readiness

Retirement readiness refers to an individual’s preparedness to comfortably transition into retirement. This includes having sufficient savings, a plan for managing expenses, and understanding health care needs after leaving the workforce. Key components involve assessing one's financial situation, such as savings accounts, investments, and pensions, and predicting expenses like housing, healthcare, and leisure activities. Being retirement-ready means not only having enough money to cover these costs but also having a clear plan for maintaining one’s lifestyle and ensuring financial stability throughout retirement years.