Bringing on new-found freedom can be another misstep. “Enjoy yourself but don’t change your life that drastically, at least not initially,” cautions Jack Tatar, author of Having the Talk: The Four Keys to Your Parents’s Safe Retirement and four other books aimed at educating people about retirement. “Try to maintain as much of your routine as possible. Maintain contact with friends and maintain budgeting disciplines. Have the talk with your children and family about what your plans are. Communication with family is important.”
As your transition draws closer, make sure you know the new financial terrain and are prepared to navigate it with the same sensible approach you’ve always taken.