6 Tips That Can Help You Retire Early
While there are lots of people who want – or, in some cases, have
– to work well past retirement age, there are probably more of us
who are looking forward to the day when all our days are our own.
A study from the Transamerica Center for Retirement Studies found that
there are some things that those who retire before the age of 65 do to
reach their early retirement goal:
Go above and beyond when it comes to saving. The majority of those who retire before 65 save outside their workplace
Defer more of salary to retirement plan. Those who retire before 65 deferred an average 10 percent of their salaries
to a retirement plan, vs. six percent for those who retire later in life.
Start early. Early retirees started saving early – usually at age 25, vs. age
30 for those who retire later.
Have a savings strategy. Most early retirees – 71 percent – have either a written or
unwritten plan for saving for retirement.
Manage and monitor accounts. Early retirees pay attention to their retirement accounts by actively
managing and monitoring them, so losses can be caught early and adjustments made.
Keep saving. Most early retirees continue to save as much or more during recessions
as they do when the economy is healthy.
The Dorcey Law Firm, PLC, provides effective retirement planning services to Florida residents.
Contact our Fort Myers law firm for your free consultation.