QUESTION:

elgabilities of earliy retirement

I'am looking into retirement
asked by frank08, 10/2/2008
Categories: Early Retirement, Delaying Retirement, Pre Retirement
ANSWERS:
Answered by: Editorial, 10/02/08
Overall Rating: Be the first to rate it.

Early retirement can mean a variety of things:
-- Quitting your job before you start Social Security
-- Starting Social Security at the first possible opportunity -- age 62
-- Quitting your job, but still working in some capacity
-- Quitting your job and taking some incentive offered by the company, but looking for work elsewhere
-- And more....

No matter how you define Early Retirement, it is not advisable for most people -- especially given the current economic situation. Consider the following:

-- If you delay the start of Social Security until the maximum retirement age, your monthly benefits wil increase significantly. Learn more about delaying Social Security here:
http://www.newretirement.com/Services/Social-Security-Benefits.aspx

-- Private health insurance is incredibly expensive. And, seniors are not eligible for Medicare until age 65.

-- Amassing adequate income to reliably support yourself until you die -- not knowing when that is of course -- is more difficult than most people realize. This is especially true when you consider the potential for inflation and other financial uncertainties.
Learn more about the risks of retirement planning here: http://www.newretirement.com/Planning101/Financial_Risks.aspx

Working past your retirement age can be quite fulfilling. Explore reasons to work here:
http://www.newretirement.com/Services/Working_In_Retirement_Reasons.aspx

The financial meltdown underway currently in the United States should make anyone pause before retiring -- at any age. Learn more about the meltdown and retirement, here:
http://www.newretirement.com/Services/FinancialCrisis2008.aspx

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