Plan your retirement ahead of time, and then relax!

Retirement can be a mixed blessing. Many people embrace retirement, relishing the opportunity to travel, visit with family, volunteer, take classes, and enjoy a slower pace of life. Others face feelings of loss and uncertainty, grieving over the separation from their social connections (and feelings of usefulness) at work and facing financial stressors, such as reduced income and increasing health care costs. Many people experience a mixture of both.

The best way to ensure a happy retirement is to plan for it and, of course, the earlier the better. No matter where you are in your working life, there are things you can do to help create a viable and rewarding retirement. In fact, the more you learn about your options for retirement, the clearer you can be about what makes sense for you.

The following checklist will help you get started on planning the financial aspects of retirement.

Planning for Retirement

• What do I want my retirement to look like? What will I do with my time? (For some guidance, see What Will You Do When You Retire?)
• How much money do I need to retire? (Use Nolo's Calculator: How much do I need to fund my retirement? to find out how much your savings will add up to.)
• How long will my retirement savings last me? (Use Nolo's Calculator: How long will my retirement savings last? to find out how long you can spend a certain amount without depleting your savings.)
• At what age can I afford to retire? Do I want to ease into retirement by working part-time, on a freelance basis, or from home? (For some interesting reading, see the article How to Live Below Your Means Painlessly.)
• How can I save money in retirement? (To save money on taxes, see Top Tax Deductions.)
• What should I do to prepare for my retirement? (For some tips, see Plan For a Healthy Retirement.)

Social Security

• How do I check my Social Security earnings and benefits? How are my Social Security benefit amounts calculated? (For information, see Checking Your Social Security Earnings and Benefits.)
• When do I file for Social Security benefits? When do I file for Medicare benefits? (To find out, see Filing for Social Security Benefits.)
• When can I start collecting Social Security retirement benefits? If I delay retirement, will my checks be bigger? Can I keep a job even after I start collecting retirement, dependents', or survivors' benefits? (For more information, see Social Security FAQ.)

Retirement Plans

• Can I take money out of my retirement plan early? (For information, see Getting Your Retirement Money Early -- Without Penalty.)
• Can I borrow from my retirement plan to buy a house? (For information, see Finding a Down Payment to Buy a House.)
• What happens to my retirement plan when I die? (For information, see Help Your Family Claim Retirement Benefits.)
• When do I stop contributing to the plan and start withdrawing from it? Depending on the type of plan, you may not have to take mandatory withdrawals. (For information, see Top Myths About Retirement Plans.)

There are plenty of ways to do retirement, just as there are plenty of ways to do a career. You can leave your career, but turn your hobby into part-time work, or you can stop working altogether. Your goal should be to create the ideal version for your life, your needs, your desires and, if applicable, your family. Whether you want to use your retirement to sail around the world or lie on the couch and read romance novels, it's important to know what you want and put a plan into place to get it.