At some point, retirement stops being an abstract idea and becomes a reality that’s just around the corner. Experts say the sooner you start planning for retirement, the earlier and more successful it can be.

When you’re ready, make sure you are

“Very nice to meet you, please come back and see us,” said Richard Sklar to a customer as she left Nick the Greek restaurant in downtown San Diego.

The regional manager is 59 years old, but don’t tell him that.

Richard Sklar chats with a customer. The regional manager is 59 but says he still has lots of gas left in the tank to think about retiring.

“I’ve never been healthier in my life, never felt better,” Sklar said, adding he’s not even thinking about what he calls the “R” word (it’s retirement).

“No, not at all,” Sklar said. “I mean, I don’t really use that word, and people I know — very successful people — really don’t use that word.”

Use it or not, Sklar does have a retirement plan tucked away deep in his back pocket. Maybe not the best one, he admitted.

“I’m not worried about it,” Sklar said without hesitation. “I’m worried about what would happen if I stopped doing the things I’m doing.”

Sklar may plan to work unti the wheels come off, but most would rather not, according to Gilbert Gaeta Alvarez, a financial planning strategist with Pure Financial.

Financial-planning strategist Gilbert Gaeta Alvarez explains how to start or reassess retirement.

“They’ve scrimped and saved, they bought the home, they put their kids through college, and now they’re finally focusing on themselves and saying, ‘Hey, I need to retire,’ ” Gaeta Alvarez said. ” ‘I need to figure a plan for myself.’ ”

Gaeta said the No. 1 mistake people make when retiring is thinking they’re ready when they’re not. Especially in San Diego. Especially if they’re helping their kids get their lives going.

“Maybe you are helping your kids pay for college or a down payment on their first home,” Gaeta Alvarez said, explaining that new retirees are often surprised by how quickly budgets shrink. “So the notion that you’re just going to tighten your belt is really difficult to overcome sometimes.”

Let’s get the retirement ball rolling

The average retirement age for a man is 64, and for a woman is 62, so let’s start there as we look at Social Security payments. It’s a sliding scale that starts at 62 and stops at 70. Age 67 qualifies you for full retirement, and waiting until you’re 70 gets you a bit more.

People often forget about medical expenses, which can get pricier with age. If you no longer have access to an employer-based insurance plan, you’ll have to come up with one on your own until you qualify for Medicare at 65.

What do you hope to do when you retire? Gaeta says many retirees find themselves with a lot more time on their hands, which often translates to more spending. Will you be traveling? Is going back to work an option should you fall short?

Let’s crunch retirement numbers

Calculate what your yearly income will be after retiring, including Social Security payments and any income from rental properties you may own.

If you have a 401(k) or an IRA, split it into 25 years, as life expectancy in the United States is about 80, but we’ll give you a few more years to be on the safe side.

Now subtract your annual financial obligations and add about 3% every year to account for inflation.

What you have left will roughly define your retirement lifestyle.

“I look at things from a purely mathematical point of view,” said Gaeta, recognizing that it’s also important to know the person’s personality and attitude toward retirement to develop a complete plan.

“The proverbial, I’m going to bounce my last check,” Gaeta Alvarez said with a laugh.

Again, this is a very basic way of looking at retirement plans, but hopefully, it gets you in the right headspace as you look to your future.

Sklar may be on his second wind, but he may want to take out that “R” word plan from his back pocket and have another look.