Tuesday, June 23, 2015

Enterprises TV Reviews How to Manage When Forced to Retire Too Early

Early retirement can sometimes be called forced retirement. It sounds harsh, but in some cases it can be a blessing in disguise. The Enterprises TV show reviews the steps to manage an early retirement.

People who retire early, generally in their 50s and 60s, have had some work event which led to their early retirement.  But there ways to make this life and career situation better than it is.

Retirees need roughly 70 percent of their pre-retirement salary to maintain their standard of living. If this is not possible, work a little longer in another job. Find a job in a different career field, such as teaching, and work until the 70% financial goal is met. Sock money away as often as possible and don’t touch it for any reason.

Work with a trusted financial advisor to determine how much is needed for medical expenses if planning to retire early. Perhaps move money into a separate account just for that.  The earliest retirement age is 62, but Medicare does not start until age 65. And in some states, Medicare is not all that great.

The Enterprises TV show also notes that early retirement is not all that bad if one is married and their spouse is still working. This is beneficial because the retired spouse can be added to the other’s health and dental benefit plans.

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