When Should You Retire?

May 20, 2019
There's no one retirement age that's right for everyone, but what are the factors that can help you make your own decision?

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After you listen

  • Deciding when to retire is one of the biggest decisions of your life. It makes sense to talk to an expert. Discover our range of investment advice options at schwab.com/advice.
  • You can also find more information about timing your own retirement decision at schwab.com/retire.
  • Deciding when to retire is one of the biggest decisions of your life. It makes sense to talk to an expert. Discover our range of investment advice options at schwab.com/advice.
  • You can also find more information about timing your own retirement decision at schwab.com/retire.

After saving up your whole life, is it finally the right time to retire? It's a complex decision with a lot of variables. In this episode, Mark Riepe examines how affective forecasting and optimism bias could hinder you from making the best decision. Mark talks with Robert Aruldoss, a senior research analyst for financial planning at the Schwab Center for Financial Research, about how much savings you should have, when you should sign up for Medicare, when you should take Social Security, and other factors influencing your decision of when to retire.

  • You can read more about the rising costs of health expenses in retirement from the Employee Benefit Research Institute.
  • Working longer and delaying retirement can be a powerful strategy. Read more about the benefits in this study.

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