Practice Makes Perfect: Try on a Retirement Dress Rehearsal

Ready to reality-check your retirement plans? T. Rowe Price offers the strategy of “practicing retirement”, or retiring while working.   How does that work? Well, it gives you an opportunity to get your feet wet before leaping entirely into retirement. But be cautious – you should meet a few financial standards before trying this on for size.   First off, you’re going to want to be prepared. Make sure you have five times your salary set away, and don’t touch it while practicing retirement. Also, be confident that you are not only financially secure, but have your money matters well in hand.   Secondly, you want to understand your plan before practicing it. What do you want to do when you retire? Knowing what you’re expecting will help you to better evaluate it.   –Allison Landa  [taken from http://www.OhioIncomeAdvisor.com]

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