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Do you think you are all set to relax and live your golden years to the fullest? Look at the six hints to determine whether you are ready to retire.

Are you debt-free? If you have settled all your debt obligations, you are ready to live your golden years peacefully. Conversely, if you still owe tons of credit card debt or lots of money on a mortgage, you may want to delay your retirement. A huge payment or loan can greatly dent your finances especially if you are on a fixed income. It is not also ideal to allocate a huge chunk of retirement salary to paying off debts. Try to at least lower your debts before hitting the retirement button.

Have you reached full retirement age? The full retirement age is 66. The Social Security allows people to claim retirement benefits as early as 62. However, a benefit claimed before full retirement age is lowered by 30%. If you wait longer, you will receive 132% of the monthly benefit. Perhaps it is better to master the art of delaying.

Are you still supporting your children or parents? A Pew Research Center study showed almost half of adults in their 40s and 50s support their parents or a grown child financially. You can retire if you answer yes to this question. Otherwise, postpone your plans to stop working for good. For example, if you are paying for the college education of your children or still supporting your elderly parents, hold your horses.

Are you crunching the numbers? Before you leave your desk for good, it is imperative to compute your possible post-retirement budget by adding all monthly expenses, including groceries and bills. You can also integrate your wants into the equation. Now, find out if you have enough to cover everything. Take into account your sources of income.

Are you reevaluating your portfolio from time to time? Your primary source of retirement is your investment portfolio. For instance, if your portfolio has experienced a major decline in recent years, chances are your fund is not as big as what you expect. At this rate, talk to your financial advisor, review your holdings, and determine if it is necessary to make adjustments.

Here’s our one cent: in the event things go out of hand, consult your financial guru.