You've been saving and investing most of your adult life for this moment, but now you're not so sure you're really ready to retire. While retirement readiness has many non-financial components to it, here's how you can know if you're financially ready to retire:1) How much income will you need? 2) What will you be receiving from Social Security? You can run a projection on the Social Security web site and enter the exact age you plan to collect. If your retirement expenses and taxes are more than your retirement income, you may want to consider reducing your retirement expenses, purchasing an immediate income annuity, taking out a reverse mortgage, or working a bit longer.

Source: Forbes January 21, 2018 15:00 UTC