Latest News
3 Reasons You Might Regret Retiring in Your 50s
Kailey Hagen has a piece here on how early retirement is growing in popularity, with more than a third of millennials and nearly half of Gen Z workers hoping to retire before age 60, according to a recent Goldman Sachs survey. Social Security cannot begin until 62 at the earliest. Further, potential speed bumps in the way include these:
- You’ll have to save a lot more in less time to retire in your 50s, and that’s not doable for everyone.
- You’ll need a plan to avoid the 10% early withdrawal penalty most retirement accounts have.
- You may need to budget for an individual health insurance plan until you qualify for Medicare.
Full article here.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.