What amazes us week in and week out is how proactive our clients have been in their retirement saving strategies. They underestimate how much they have saved and how early they could retire if they wanted to. Investopedia has created a checklist to consider before making that decision to retire early. In this episode Dennis Prout discusses these list items to include:
1. Your Debts Are Paid Off
2. Your Savings Exceeded Your Retirement Goals
3. Your Retirement Plans Don’t Have an Early Withdrawal Penalty
4. You Healthcare is Covered
5. You Can Currently Live on your Retirement Budget
6. You Have a New Plan or Project for Retirement
If you’re unable to check off this list, consider ways to build wealth in your 50s. Oftentimes, when we have done the investigating and gathered the information, we are more enlightened than before. This is empowering for us to start making decisions that get us to our goals faster!