Dreaming of retirement is exciting and fun. Ah, the travel, the adventures, the free-time. But before you take off on that sailboat into the setting sun, consider these five warning signs that you're not yet ready.

You Identify by Your Job

Your life if your job and you don't have any real outside activities or hobbies. If this describes you, you're not yet emotionally ready to separate yourself from work. You need to prepare for life outside of work, so now is the time to start that hobby you've been considering.

However, working longer can be a good thing. Most people don't like their jobs and can't wait to quit. If you can work longer at a job you enjoy, you can delay taking Social Security, further boost your savings, and might even live longer.

You Don't Know How Much You'll Need to Retire

You wouldn't first check your parachute on the way down, so why would you retire not knowing how much you have or need? Knowing  your retirement finances is essential for a secure and happy retirement, and you should start by understanding how long your savings will last and adjusting how you plan to live.

You actually might be able spend more than you thought.

Your Back-Up Plan Is To Get Your Old Job Back

You're loved at your job and they say if you ever want to come back, just say the word. That is wonderful news. However, there are two risks. First, circumstances change and, unless it is in writing, you aren't guaranteed your old job back. Second, if you're planning to spend your retirement back at your old job, you might not be ready to leave the workforce.

You Haven't Spoken to Your Spouse About Retiring

The obvious first step is to have a conversation to make sure you're both on the same page about your retirement. If both you and your spouse work, things get a bit more complicated if one person retires and the other one doesn't. Will the retiree travel without their spouse? Is the retiree now expected to pick up more household duties? You both might be making divergent assumptions, so getting the air cleared before you retire is essential.

You Still Have Dependents

Are you financially caring for children or an elderly parent? 15 percent of people age 40 to 59 are providing care to both their children and parents, and their retirements are suffering, according to Pew Research. If you have this responsibility, you need to add this debt into your plan so you can understand your retirement financial security. You can use an online debt manager to help get a handle on this and other debt.