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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 retirement plans.

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.

Categories: Retirement Planning
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The Dorcey Law Firm, PLC - Fort Myers Attorney
Located at 10181 Six Mile Cypress Pkwy, Suite C, Fort Myers, FL 33966
Phone: (239) 330-6674
Local Phone: (239) 418-0169