How to Know When YOU Should Retire (The Full Picture Method)
Executive Summary
Choosing when to retire isn’t as simple as picking a date. Everyone has an opinion: your CPA, your family, your doctor, even your boss, but the real answer depends on more than just money.
The Full Picture Method helps you balance financial trade-offs with life factors such as health, stress, and readiness, so the decision reflects both your financial security and your personal well-being.
Want to watch an in-depth exploration of this topic?
Check out this video on my YouTube channel, @SavvySteward: How to Know When YOU Should Retire (The Full Picture Method)
Take the free “How Much Do I Need To Retire” Quiz here:
https://secure.kingsview.com/keith-savvy-steward-quiz-youtube#q1
How to Know When YOU Should Retire (The Full Picture Method)
When it comes to retirement timing, everyone has an opinion. Your CPA tells you to wait to save on taxes. Your family says you’ve worked long enough. Your doctor worries about your stress, while your boss insists you should stay “just one more year.”
No wonder choosing a retirement date feels so overwhelming. It’s not just about numbers—it’s about how those numbers intersect with your life. That’s why I use what I call the Full Picture Method: a way to weigh financial trade-offs alongside the very real life factors that don’t show up on a spreadsheet.
Why is retirement timing about more than just money?
Retirement is both a financial and a personal decision. Numbers show you the potential income, tax impacts, and portfolio changes of waiting longer. But numbers can’t measure stress, health challenges, or the desire to step into the next stage of life. If you focus only on money, you may sacrifice years of well-being for dollars you don’t truly need.
What financial trade-offs should you measure before choosing a retirement date?
To calculate your financial trade-offs, consider:
- Income: Multiply your monthly salary by the extra months you’d work and add bonuses or benefits.
- Portfolio impact: Retiring later reduces withdrawals and gives investments more time to grow.
- Taxes: Retiring mid-year often lowers your tax bracket, creating opportunities for Roth conversions or tax-efficient withdrawals.
This analysis shows the true dollar value of staying longer or leaving sooner.
Which life factors weigh into the retirement decision?
Numbers can’t capture the toll work may be taking on your life. That’s why you need to rate yourself in five key categories, using a scale of 1 to 10 (1 = not an issue, 10 = you’re redlining):
- Energy and stress levels – Are you coasting along or barely hanging on?
- Health situation – Is work neutral, or is it actively harming your health?
- Relationships – Is your family life steady, or are work demands straining your closest connections?
- Upcoming life events – Will continuing to work mean missing important milestones, or can you still be fully present?
- Personal readiness – Do you feel content to keep working, or desperate to step away?
Now, total your scores:
- Under 25: You’re in great shape personally. The financial numbers should drive your decision.
- 25–32: You’re starting to feel pressure. Keep an eye on the life costs creeping in.
- 33–39: Lifestyle considerations are significant. If your finances are secure, lean toward retiring.
- 40+: Life costs are serious. Unless you’re in financial crisis, your well-being should come first.
This isn’t about ignoring the financial numbers; it’s about putting the numbers and the life factors on the same scale. That’s how you see the full picture of retirement timing.
How does the Full Picture method help you decide when to retire?
The Full Picture Method combines both sides of the equation. You calculate the real financial trade-offs of staying longer, then weigh them against your life factors. Together, these give you a clear framework for making a decision that reflects your reality—not just advice from others.
When you step back and look at the entire picture, you make retirement timing a choice that supports both your finances and your life. That’s what planning with intention is all about.
Real wealth starts with real life. Don’t just plan the numbers—plan the life.
Contact Information
Keith Demetriades, CFP®, CKA®, believes real wealth starts with real life. He created the 4D Client Experience to help guide decision-making and ensure your money works as a tool to support your life. If you’re ready for a financial plan that reflects how you live and what you’re building toward, contact Keith at (806) 223-1105 or visit Kingsview Partners.
Disclaimer: The information provided in this blog is for educational purposes only and should not be considered financial advice. Please consult a qualified financial advisor to discuss your specific situation and needs. Past performance does not indicate future results, and all investments carry risks, including potential loss of principal. Any financial product or strategy references are purely illustrative and should not be construed as endorsements or recommendations.
