If you're considering retirement before the age of 60, there are a few key things you must consider to ensure you're financially prepared.
You need to have an understanding of how your age will affect your social security payout, how you plan to pay for health insurance, what penalties you may incur for withdrawing early from an IRA, and what the ups and downs of both inflation and the stock market mean for your retirement.
In this episode, I cover how social security, Medicare, IRAs, inflation, and the stock market can impact your decision to retire early.
Click here to Download Your FREE "3 Steps" to Plan an Epic Retirement Worksheet: https://www.trunorthwealth.com/newsletter-signup
What's included: 3 Steps to Planning an EPIC Retirement
Step 1: How will You Spend Your Time?
Step 2: Identify Your Income & Expenses
Step 3: Putting it all Together
Connect with Danette Lowe, CFP®
https://linktr.ee/trunorthwealth
Visit Our Website: https://www.TruNorthWealth.com
Episode Summary:
1. Social Security: Social security looks at the highest 35 years of earning. If you're retiring in your fifties, there's a potential that your earlier years of working had a lower income and it could affect your overall estimate.
Popular Podcasts
Las Culturistas with Matt Rogers and Bowen Yang
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.