The realities of early retirement mean it isn't right for everyone
When you think about early retirement, you might get a dreamy, faraway look in your eyes.
Perhaps you envision time spent traveling while you're still young, or spending more time as a family because you're no longer working full time.
Or maybe you're picturing walking away from a job you dislike and never dealing with a stressful deadline or boring meeting again.
Early retirement can be an escape from a bad work situation as well as an opportunity to spend time doing the things you truly want to be doing.
However, the reality is that early retirement isn't for everyone. Early retirement is a difficult goal to achieve, and it may not be what makes you happy in the long run.
Here are some of the pros and cons of early retirement:
More leisure time
A boost in leisure time earlier in your life is a major bonus of early retirement. You will have more years to enjoy retirement and to tackle all the projects you have wanted to try. You be able to invest in your family and relationships and spend more time with your children and grandchildren.
Less stress
Not working around the clock for an extra 10, 15, or 20 years can significantly reduce your levels of stress each day. You won't have to rush to get out of the house every morning and sit in traffic during the morning rush hour or be expected to work late or through the weekend. Now you don't have to work at all unless you want to.
Finding health insurance
Early retirees often lose their employer-sponsored health insurance, but aren't yet old enough to sign up for Medicare. If you retire before you're eligible for government-funded health care at 65, you will need to find another source of health insurance that could cost much more.
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