Although many of us would like to work till we want and we can, the target age of retirement has to be properly deciding after duly considering multiple elements. Be it the traditional understanding of retirement or be the aim of financial independence, understanding certain factors is crucial:-
Financial readiness: Your current financial situation, including savings, investments, pensions, and other sources of income is crucial.
Health and longevity: Factoring in potential healthcare costs and the likelihood of needing long-term care as you age is also important.
Post-retirement goals: Post-retirement goals, such as travel plans, hobbies, volunteer work, or spending time with family are important considerations. Ensure your target retirement age aligns with these aspirations, allowing you to fully enjoy these things after your retirement.