10 Signs It’s Time to Retire
Are you wondering whether it's finally time to retire? From burnout to booming bank accounts, these 10 signs will help you decide if retirement is right around the corner. We'll walk through emotional, financial, and practical indicators—and share tools like the Retirementize calculator to help you plan with confidence.
1. You Dread Going to Work
It's normal to have a bad day. But if you're clock-watching every morning and mentally checked out by lunch, it might be more than just a rough patch. Many people retire not because they’re financially ready—but because they’re emotionally exhausted. According to a Gallup poll, disengagement at work increases with age, especially past 60. If your job feels like a daily drain, retirement may offer the relief and renewal you need.
2. Burnout Is Affecting Your Health
Burnout isn’t just about being tired—it’s a cycle of exhaustion, cynicism, and declining performance. Stress-related health conditions like high blood pressure, insomnia, and depression are increasingly common among older workers. If your doctor is advising more rest or a change in lifestyle, it's time to evaluate your priorities. You might be trading your health for a paycheck—and that’s a costly deal.
3. You’re Not Learning or Growing
Personal growth fuels purpose. If your job no longer challenges you, you're not just stuck—you’re stalled. Maybe you've already trained your successor, led the biggest projects, or simply lost your passion. That’s a clear signal to consider new pursuits. Many retirees discover surprising fulfillment in second careers, volunteering, or learning new skills during retirement—check out fun jobs after retirement for ideas!
4. You Envy Your Retired Friends
If stories about Mediterranean cruises and 9 a.m. pickleball games make you sigh with longing, listen to that inner voice. Retirement envy is a real psychological cue. It often means your mind is ready—now it’s time to see if your finances are too. Use the Retirementize income calculator to see how close you are to financial independence.
5. Your Health Requires More Attention
Frequent appointments, medication schedules, and managing chronic illnesses often compete with full-time work. Retirement offers the flexibility to prioritize self-care. Studies from the Journal of Aging & Health show that those who retire earlier report better self-rated health—especially if retirement is by choice, not circumstance.
6. You’ve Hit Your Financial Targets
If your retirement savings have reached your “magic number,” it's time to start planning your exit. Use our income vs savings calculator to run scenarios. Need help setting your number? Explore the magic number guide and tools like the Four Percent Rule.
7. You’re Debt-Free (Or Close)
Paying off your mortgage, car loans, and credit cards is like giving yourself a raise. Being debt-free reduces your monthly retirement budget and boosts your confidence. Many retirees follow the frugal retirement lifestyle and claim to be happier for it. Even better, fewer debts mean fewer worries during market downturns or unexpected expenses.
8. You’ve Created a Retirement Plan You’re Excited About
What will your days look like post-retirement? If you have clear answers—whether it’s volunteering, travel, or launching your Etsy store—you're ahead of the game. Not having a plan is one of the biggest retirement planning mistakes. A purposeful retirement is a happy one.
9. Your Work Environment Is Changing (and Not for the Better)
Maybe your new boss is half your age, and you’re drowning in Slack messages and AI dashboards. If you're no longer aligned with company culture, tech, or leadership, it's worth evaluating your options. The workplace is evolving fast—retirement might be your way to opt out gracefully and start a new chapter.
10. You’re Financially Independent Without Realizing It
Many people keep working out of habit—even when they don’t need to. If you’ve built multiple income sources, like rental income, pensions, RRSPs, and TFSAs, you may be more prepared than you think. Cross-check with the withdrawal calculator to confirm you’re safe to stop working—and start living.
Fun Facts
- 63% of workers over age 50 delay retirement for financial reasons. (Transamerica Center)
- The average Canadian retires at 64.6 years. (Source)
- 60% of retirees say they’re busier after retiring than before.
- 1 in 3 retirees regrets not saving sooner. (Source)
- More than half of retirees rely on three or more income sources. (Canada), (USA)
Conclusion
Retirement isn’t just an end—it’s a beginning. If you’re nodding your head at several of these signs, it’s time to start preparing seriously. Whether you plan to retire at 55 or 67, the right time is when your heart, health, and finances align. And when in doubt, let the numbers guide you—Retirementize makes it easy.