7 things to do to prepare for retirement

Retirement signals the beginning of a new life phase, but the transition can be challenging, including making your announcement. An April 19 Wall Street Journal article laid out seven strategies to ensure a smooth transition.

1. Talk to your spouse or partner and explain how you plan to spend your time without burdening your loved ones.

2. Carefully choose which workplace colleagues you decide to share your news with, as answering their questions may get draining.

3. Create a clear and polite message to ensure there are no misunderstandings about your decision. The Journal suggests practicing with friends and family or even hiring a public relations consultant to help you.

4. Make sure people, including your friends and family, don't take advantage of your free time by telling them you will have a full schedule once you retire — even if you don't have a plan for what that schedule will entail.

5. Decide when you will be ready to leave work and ensure your team has enough time to transition before telling your superiors of your retirement plans. If you tell them too early, you might get sidelined before you are ready, and if you tell them too late, it may make it harder on your team.

6. Create a plan for how much you'll continue to be involved in your workplace, as there may be a situation where you are asked to continue full time even after your retirement date.

7. Leave your job on good terms and make sure your employer knows that your decision was a personal one.

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