When is the right time to retire

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I stumbled across the below article written by By Dave Bernard | U.S.News & World Report LP

http://finance.yahoo.com/news/time-retir...54306.html

I figured with the current demographic age of the 3-4000 Wanderlodge owners this might be helpful for two reasons:

1) If you are 5- 10 years out, now is a GOOD time to start thinking about these kinds of things, sort of "define the box" and tune as life throws you fast balls and curves

2) We probably have a WEALTH of members from all walks of life who have already did this. So, without getting too personal, any 1 or 2 tips (lessons learned / if I could did all over again I would) you can add to this thread for those thinking about retirement would be a great source of information for them to make informed decisions. I'll start to give you an example:

I decided last year to accept an 18month "transition to retirement program" that ends this year so I currently work part time for 18 months. This allows me to:
1) Not have such an abrupt end to my business life after 38 years, I can
slowly transition to it ,tune my free time, try new ideas to see what
does and does not work for me and us.
2) I can finally get all those items that have been sitting on my "punchlist"
for life done!
3) We plan to relax more and supplement / amp up our activity and social
contact through travel both domestic and foreign.We also will
volunteer our time and expertise to the less fortunate in order to help
them achieve their goals.