You’ve been thinking about it for a while, but now it’s getting close to decision time. You think you might want to retire, but you want to do it for the right reasons.

So, what are the right reasons? Once you start to get serious about retirement, you realize it’s about more than just needing a long vacation. Being in the right mental and fiscal place for retirement is crucial to the retirement journey. We offer you some great reasons to take the plunge.

YOUR PASSIONS DEMAND FREEDOM

Leaving your career isn’t just about having days off, it is about freeing up time to do things you are passionate about. When you were younger, your passions likely resided in your work, but people change.

If your work feels like constraint rather than fulfillment, it’s time to consider retiring. Keep in mind that doing so doesn’t mean you won’t be productive. Maybe you want to invest in a hobby, travel or even try a new line of work. All of those things may mean saying goodbye to your 9 to 5.

YOUR PORTFOLIO CAN HANDLE IT

We can’t tell you how many times people have come to us and said they wish they had taken a year to get their portfolio in a good position before they retired. An extra year might not seem like much, but if you plan right, you can reduce your tax burden, set aside a little more money, and take those last few steps to make sure you can have the retirement you want.

Look at the amount you have in savings, account for taxes, rebalance your portfolio if necessary, and make sure you are prepared for the worst.

YOUR FAMILY IS READY

If you are planning on taking care of your parents, or continuing to help your children with their education, now might not be the right time to retire. Be honest about the choice you intend to make in supporting family, and what that will mean for your finances.

And for crying out loud, make sure you and your partner are on the same page. Don’t take it for granted. So many couples are surprised to learn that the other had planned to retire early. If you haven’t had the conversation with your loved ones, have it now.

YOU HAVE HIT FULL RETIREMENT AGE

This isn’t a hard and fast rule, but if you have hit full retirement age, you can retire and begin to take Social Security without leaving money on the table. As importantly, by waiting until full retirement age, you will be eligible for Medicare, as you will be over 65-years-old.

Obviously, all of these priorities need to be held in tension. By working with an experienced advisor, you can objectively assess whether you are retiring for the right reasons.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

This article was originally published in the Pioneer Press. You may view the article here.