Average retirement age in the U.K. is 63, according to the U.K. Census Bureau. But that doesn’t mean 63 is the best age to retire for you. In fact, it is probably better to wait until you are older since Social Security benefits are reduced and Medicare isn’t available until you’re 65. That said, optimal retirement age is specific to the individual and only you can decide when the time is right. Below are discussion points that can help you with that decision—starting with what is perhaps the most important point to consider.

One of the regrets voiced most frequently by retirees is that they did not have a plan in place. The euphoria of having “nothing to do” is often replaced by the sad realization that you have “nothing to do.” To avoid this scenario, spend time before retirement thinking about life after retirement. What do you want to do? Travel? Work part-time? Volunteer at a nearby school, local museum or nonprofit group whose work you admire and want to support? Perhaps you want to take some time off to relax before diving back in. That’s not a problem, of course, but it’s best to explore more active options ahead of time and put them on your “to do” list for later. What’s most important is that you remain physically and mentally active in retirement.