Financial Security & Early Retirement

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					    Financial Security & Early Retirement

Most people like to believe that they will be able to retire years
before they reach full retirement age. Although this is a nice thought,
                              it’s not very realistic unless you commit
                              to solid planning early on.

                              One of the first things you should
                              decide is at what age you would like to
                              retire. The second thing you’ll need to
                              know is how much financial security you
                              expect to have. A good financial planner
                              can help you estimate how much you’ll
                              need to retire at your target age.

                              With this number, you can now begin
crafting a savings and investment plan. Keep in mind that this is only
an estimate and also that with an early retirement, you’ll have to plan
to live longer off your nest egg.

Once again, a financial advisor can help you determine the best way
to invest your money in order to achieve your retirement goals. In
most cases you will find that if you save and invest wisely, you can
have a secure financial future that will extend beyond retirement.
But what if the prognosis isn’t good? What if you aren’t able to reach
your savings goal by your target age?

There are a couple of alternatives. First, look at how close you are to
your goal? Would a few more years make a difference? If so, then
maybe you still retire early, just not as
early as you had originally planned.

If your retirement fund would carry
you through retirement but for a small
gap   each    month,    then     consider
working part-time instead. Maybe this
is when you get that job as a travel
agent or go to work as a substitute teacher. Working part-time gives
you some flexibility to choose a career because you find it rewarding,
not because it pays the bills.
Also remember that you can continue to save after you’re retired.
This, combined with a part-time job might be all it takes to make that
early retirement dream a reality.

Experienced estate planning attorneys Seattle WA of the Byrd Garrett
PLLC offers estate planning and business planning resources to
residents of Seattle WA. To learn more about these free resources,
please visit today.

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Description: Most people like to believe that they will be able to retire years before they reach full retirement age