Early Retirement Playbook - Adviser Investments

Early Retirement Playbook

February 26, 2021

The surge in unemployment during the pandemic has led some people to retire sooner than they planned. Whether it’s a personal decision or one that has been imposed on you, here are four ways to make early retirement both fun and feasible:

  1. Get a Handle on Your Expenses. Your biggest concern is likely to be “Will my current savings be enough to meet my needs for the rest of my life?” A key first step is understanding how much you’ll need to spend to support the lifestyle you have in mind for retirement. Our Budget Worksheet can help you get started—it allows you to compare your pre-retirement expenses and income against what you expect to be spending and earning post-retirement.
  2. Plan for Health Care. Medicare eligibility begins at age 65. If you plan to retire before that milestone, it’s important to know how you’ll bridge the gap with health care coverage. COBRA—the Continuing Budget Reconciliation Act—gives you the option to pay to keep your employer’s health plan for up to 18 months after you retire. From there, you can explore the private marketplace for coverage until it’s time to enroll in Medicare.
  3. Evaluate Your Social Security Benefits. When you retire early it’s tempting to file for Social Security benefits at once. However, that might not be your best option financially. We have a host of content on Social Security—including podcasts and a special report—to help you think through the decision. And, of course, we are happy to perform a full Social Security analysis for you.
  4. Rethink Your Employment Options. Retirement doesn’t necessarily mean a full stop to working. Consulting on a part-time basis has become an exciting career phase for many of our clients. With a lifetime of expertise and an inclination to work on your own schedule, you likely have a number of options—and we can help you work through them.

With more than 25 years of helping clients achieve peace of mind in retirement, we know that everyone’s situation is different. Our financial planning team is ready to answer your questions. Give us a call if you’d like our advice about your career time horizon and your retirement lifestyle. We’re here for you.


This material is distributed for informational purposes only. The investment ideas and opinions contained herein should not be viewed as recommendations or personal investment advice or considered an offer to buy or sell specific securities. Data and statistics contained in this report are obtained from what we believe to be reliable sources; however, their accuracy, completeness or reliability cannot be guaranteed.

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