If You Can't Answer These 3 Questions, You're Not Ready to Retire
Many people rush into retirement only to regret that decision after the fact. If you're gearing up to leave the workforce for good, make sure you can answer these important questions first.
You might have a number of income streams at your disposal during retirement, from Social Security to personal savings to money from a part-time job. The key, however, is to figure out how much monthly income to reasonably expect, and determine whether it'll be enough for you to live comfortably on.
If you're close to retirement, estimating your Social Security benefits is pretty easy. Just take a look at your most recent earnings statement from the Social Security Administration (if you don't have a paper copy, you can get it online) and see what your monthly payments look like. Keep in mind that the age you claim benefits at could cause that number to change, but at least you'll have a ballpark.
Source Fool.com
