5 Key Considerations for Early Retirement

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.