Deciding when to retire is one of the most important steps in anyone's financial plan, and there are many factors that play a role in that decision. The best retirement plans quantify the amount of cash that will be flowing into a household and confirm that the income will be enough to satisfy all their expenses.

By answering these three questions, you'll be able to assess important cash flow concerns to figure out if you're financially prepared to retire in the near future.

Retirement planning is all about satisfying cash needs in the absence of earned income. You can't make a confident decision about retirement without understanding your monthly and annual budget.

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Source Fool.com