Avoid These 5 COMMON Mistakes When Retiring EARLY

Early retirement can be a dream come true for many, but there are 5 common mistakes people make and end up regretting when retiring early. Here’s what to watch out for:

1. Not knowing what you’re retiring into: Retiring early without a plan can lead to regret. Identify your priorities, such as family time or pursuing passions, and align your finances accordingly.

2. Misunderstanding risk: While market drops often concern retirees, the long-term impact of inflation is the real risk. Working with a financial advisor to create an investment strategy that balances risk and growth potential can help avoid this mistake.

3. Ignoring part-time income: Many retirees don’t consider working part-time or freelancing in retirement. Yet, this can offer an easier transition while generating income, fulfillment, and helping maintain social engagement during retirement.

4. Not practicing retirement: People often either have no expectations or very specific expectations of their retirement. And, when they get there, it doesn’t always look or feel like they hoped. If you take time off before retirement, you can experiment with different activities and routines to get a better understanding of how you want your retirement to go.

5. Using financial rules that don’t apply: Traditional retirement guidelines may not apply to early retirees. If you’re considering retiring early, meet with a trusted financial advisor who can help tailor strategies to your personal goals and circumstances.


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⏱ Timestamps ⏱
0:00 Intro
0:44 Mistake 1
2:47 Mistake 2
4:02 Mistake 3
6:55 Mistake 4
8:56 Mistake 5
11:03 Outro

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