Is 2027 your year to retire , or should you prepare a little more and work another year? That may be the question running through your mind as we round out 2026. After all, it's been pretty tumultuous. Inflation is up 3.7%, gas is over $4 a gallon and the stock market has been volatile. At the same time, 401(k) balances are at record highs and there are more 401(k) millionaires than ever before.

If you have been doing your job and saving, you may be thinking you're ready. You've got the cash and the means, so why not go for it? It turns out there's a lot more to it than the balance in your retirement accounts .

"It's a conversation we're having a lot right now with consumer sentiment so low and what's happening out in the world," said Kelli Smith , a financial planner at Edelman Financial Engines. "Can you really afford to retire next year, and how do you feel about it?"

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