After a long holiday weekend, the thought of retirement may start creeping into your mind. You might find yourself wondering, "When can I retire?" It's a question that resonates with many, as evidenced by the fact that "When can I retire?" was one of the most popular financial searches last year. This isn't surprising. Whether due to burnout, dissatisfaction with your job, or witnessing the declining health of someone close to you, the idea of retirement can become very appealing.

My dad's retirement experience offers perspective on this topic. He worked a job that he didn't love, but he did it to pay the bills and support our family. For that, I am eternally grateful. I remember a family vacation to Florida during my teenage years. Dad was fully engrossed in planning his escape from work long before he was able to retire. When we returned home, I can still picture him sitting at the kitchen table, pouring over travel guides and weather charts, trying to figure out the best place to retire. His criteria were simple: favorable weather, ample sunshine during the winter months, and a lifestyle he could enjoy on a modest income.

He calculated that to maintain his childhood home, rent a condo in Florida, visit the dog track, go bike riding, and dine out a few times a week with my mom; he would need to net $50,000 annually. This was back in 1993. Thanks to a small pension, health insurance from his municipal job, Social Security, and 401(k), he hit his "magic number" at 62. He and my mom spent the next few decades living their dream life in Fort Myers, Fla. Those were the happiest years I ever saw them experience, and my dad never once regretted leaving the workforce behind.

For my dad, retirement was everything he hoped for. He embraced a healthier lifestyle, adopting exercise, better eating habits, and letting go of a few bad ones. He lived for another 22 years, thoroughly enjoying the life he had worked so hard to achieve. However, my dad's story is not always the norm for everyone.

While many dream of retiring early and enjoying endless leisure, retirement can be a double-edged sword. Studies suggest that about one-third of retirees experience some level of regret after retiring. They miss the structure, social interaction, and sense of purpose that their careers provided. Retirement can feel more like a loss than a gain for these individuals.

Before handing in your resignation, it's wise to think carefully about what retirement will mean for you. Beyond the financial considerations, you should also reflect on the mental and emotional aspects of retirement. Taking an extended vacation could be an excellent way to test the waters. See how you feel when you're away from work for a significant period. Do you miss the daily routine? Do you find yourself craving the camaraderie of your colleagues? Or do you feel relieved and more relaxed?

If you're fortunate to have reached your financial goals and can retire comfortably, consider how you will fill your days. Reflect on your hobbies, passions, friendships, and family situation. Will you find enough satisfaction in these areas once work is no longer part of your daily life?

For some, retirement's lack of structure and purpose can be unsettling. If you find yourself in this situation, it's important to remember that retirement doesn't have to mean the end of meaningful work. Many retirees find fulfillment in part-time work, consulting, volunteering, or pursuing new hobbies that provide a sense of purpose.

Ultimately, deciding when to retire is deeply personal and requires a careful balancing act of financial stability, mental well-being, and life satisfaction. Whether you choose to retire at 62 like my father or work for a few more years, make sure it aligns with your overall goals and well-being. After all, retirement is not just about leaving work behind; it's about moving toward something that brings you joy and fulfillment.

Eric Tashlein is a Certified Financial Planner Professional™ and financial advisor with Cambridge Investment Research Advisors, Inc. He can be reached for questions at 800-878-7152. Office: OES Wealth Partners, 71 Bradley Road Suite 4-A, Madison, CT 06443. Website: www.oeswealthpartners.com. The information provided is for educational purposes only and doesn't intend to make an offer or solicitation to sell or purchase any specific securities, investments, or investment strategies. Investments involve risk and are not guaranteed. Be sure to consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance. Advisory Services offered through Investment Advisor Representatives of Cambridge Investment Research Advisors, Inc. Cambridge Investment Research Advisors Inc, and OES Wealth Partners are not affiliated.