Today’s Prep:
Some may think that retiring early is just a dream, but can you turn this dream into a reality? In this episode, Eric talks about the ins and outs of taking an early retirement. Find out when you can retire and whether you will actually want to stay retired.
Equipping Points:
0:47 – WHAT AGE IS ‘EARLY RETIREMENT’ FOR MOST PEOPLE?
2:01 – CAN EARLY RETIREMENT BE A REALISTIC GOAL?
- The common mistake people make but what you should really be focusing on.
- Tax penalties that need to be considered.
- Do you need to have additional income still coming in?
4:39 – DOES RETIRING EARLY MEAN COMPLETELY STOPPING WORK
- What do most people do after retirement?
- Eric shares an example of someone who found a way to bring in bonus income
7:55 – THE BIGGEST CHALLENGE TO RETIRING EARLY
9:01 – HOW WILL I KNOW IF RETIRING EARLY WILL WORK FOR ME?
Related Resources:
ARTICLE: Technology for Retirement Planning
PODCAST: Retirement Income Planning
Today’s Takeaway:
“A lot of people do something because they want to be connected. You can only travel so much, golf so much, and do all this retirement stuff so much before you want a little something to do for work, even if it’s not the main source of income. – Eric Peterson“
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