How do you know when you can retire?

Sounds like a simple enough question, but as you start to think about it, there's not really a simple answer.

Is it when you have a certain portfolio balance?

Is it when you turn a certain age or have a certain amount coming in from Social Security?

All of these things are good, but even you take them further.

Things like your Monte Carlo probability of success, things like a projection of how much money

you might have at the end of your lifetime. All of these things by themselves fall short if they're

the only thing that you're looking at. That's why in today's episode of Ready for Retirement,

we're going to walk through the three-step test we'd like to go through to help clients

understand when they're in a position to actually retire.

This is another episode of Ready for Retirement. I'm your host, James Cannell, and I'm here to teach you how to get the most of the life with your money. And now, on to the episode.

So as we jumped in, the first thing that we really need to acknowledge is there's no perfect

formula to guarantee success.

As much as we want to rely upon numbers and projections and we want to think that we have an

idea of what's to come, we can get close and we can make good educated guesses, but at the end

of the day, there's no perfect formula that's going to guarantee success. Instead, what we need

to do is we need to look at our retirement. We need to look at our portfolio and our plan's going to guarantee success. Instead, what we need to do is we need to look at our retirement.

We need to look at our portfolio and our plan's ability to sustain that retirement, and we need

to do so from different angles, and we need to continue to revisit these things along the way

to not only ensure that we can retire, but to ensure that we can remain comfortably retired.

So we're going to walk through three things that you

can do, as well as some bonus things that you can do, to make sure that you're in a position

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