Originally published on CUinsight.com.
No, I’m not talking about the fiscal cliff, although some here in Washington, DC are calling it the end. Worse. The Mayan calendar ends on December 21, 2012 and if you’re into certain doomsday theories, that day marks the end of the world. Which means I need to quit my job today, right now, and enjoy my remaining time on earth (T-minus 30 days) lounging on a faraway tropical island.
For the most part I’m joking, but fantasizing about cashing out to live on an island makes me wonder—will I be ready to retire when I want to?
Although retirement seems like a lifetime away (at least twenty years), and I have a background in financial services, I’m not so sure that I’ll be ready when the time comes. I have a 401(k)—several actually—as well as IRAs, brokerage accounts, and a rainy day fund. I even participate in direct stock purchase plans. It would seem like with my knowledge of financial planning (and a predisposition towards frugal living, thank you Mom) that I would be well on my way to a secure retirement. The uncertainty of the market over the past few years has left me questioning my ability to ever retire. Unfortunately, quite a number of people feel the same way.