Have you explored downsizing your living expenses? Your living expenses in retirement will likely be between 80 to 100 percent of your pre-retirement living expenses. By gradually downsizing your spending, you can significantly cut your monthly expenses without feeling the shock of adjustment. Look closer at your monthly expenses and identify items you can do without. Eliminate a few at a time.

Do you have a clear end game? You may have a good general sense of how much money you need to retire, but you aren’t truly ready to retire until you understand what that means in day-to-day terms. Compare your “retirement number” to your anticipated monthly expenses and make adjustments as needed. You should have an up-to-date and comprehensive financial plan that gives you a clear picture of your financial situation and specific action steps to address any adjustments that need to be made prior to retirement.

Where are you on your debts? You should understand what you owe and how much longer you need to work to get your debts cleared up.

Have you “right sized” your mortgage? You don’t need to pay off your mortgage necessarily, but need to make sure your mortgage payments are at a level you can afford in retirement. Downsizing your home can also be a real opportunity in retirement to cut your living expenses considerably.

Have you considered the different types of income sources available to you in retirement? There are many different ways to patch together the right assets and investments to provide for your retirement. Even if your investment portfolio is not large enough to support your retirement needs, you may find that you have other assets (a business, or real estate) that can contribute.