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Many people plan to retire around 65, but new research shows a large percentage are leaving the workforce several years earlier and often not by choice. Health problems, job loss, and rising healthcare expenses can suddenly force a retirement timeline to change.
In this episode, Dennis explains why those extra few years matter so much and how better planning can make an unexpected early retirement more manageable.
Here’s some of what we discuss in this episode:
- Three Years Matter: Lost contributions and early withdrawals can create a large financial gap
- Healthcare Is Expensive: Covering the years before Medicare can add significant monthly costs
- Budgeting Becomes Critical: Knowing exactly what comes in and goes out matters more when income changes
- Plan to Pivot: Starting the planning process several years early gives you more options
Go Inside the Episode:
0:00 – Intro
1:00 – What Research Shows
3:12 – The Three-Year Healthcare Gap
4:03 – Income Differences
5:23 – Getting the Budget Right
6:32 – Should You Save More Earlier?
7:50 – Start Planning Earlier
9:27 – Reach out to Dennis
Millions Are Retiring Earlier Than Planned. Do Advisors Need To Rethink Planning?
Resources
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