These warning signs say it’s time to retire, and the risks of the 'one-more-year' trap may surprise you

Core Insights - A significant portion of Americans are uncertain about retirement readiness, with many planning to work beyond traditional retirement age [1][2] - Emotional and financial readiness are both crucial factors in determining retirement preparedness [2][3] Financial Readiness - 36% of employed workers expect to retire at age 70 or older or do not plan to retire at all [2] - 69% of workers believe their savings will be insufficient for retirement needs [2] - The median retirement savings for Americans aged 55-64 is approximately $185,000, which is significantly lower than the $1.26 million target many consider necessary for a comfortable retirement [3] Emotional Readiness - Chronic workplace stress can have serious health implications, making it essential to assess emotional readiness for retirement [4][5] - Delaying retirement can lead to fewer years of enjoying retirement while in good health [5] Retirement Considerations - Working past age 73 may result in higher tax liabilities due to required minimum distributions [5] - A checklist of signs can help individuals evaluate their readiness for retirement [6]