“Honey, I think it’s time I retire,” you said, thinking it would be received as the good news you believed it would be.

“What are you going to do all day?” she replied.

And so, the conversations about Your Retirement Life begin. Allow me to intervene if you will. These are not easy conversations. They’re best done with as much preparation as possible. I understand the courage it takes to admit you’re done working, but let’s do some thinking first.

The first question you want to have some confidence in answering is “Do we have enough?” Because that question is asked right before “What are you going to do all day?”

It’s not always an easy question to answer. Switching to spending mode, as you know, is not for the faint of heart. You know I want you to take those trips, and this is one reason why. It helps you see what you might envision your retirement life to be.

This is hard work. When you’ve been in accumulation mode, it’s hard to loosen the purse strings. It’s downright terrifying. Take the time to think about it. And be sure to know what you will be doing with your free time.

Action Line: You don’t need to have all the answers beforehand, but it does help to have a talk with your money guy to help you run some numbers. When you need to have that talk, email me at ejsmith@yoursurvivalguy.com.

Originally posted on Your Survival Guy.