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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.

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