08 October 2019

Financial Focus | Fall 2019

Posted in Financial Focus Newsletters

In this issue we discuss weighing the pros and cons of early retirement, considerations about term life insurance, trustees and beneficiaries and tax tips for the fall

Financial Focus | Fall 2019

Consider the Downsides of Early Retirement

Early retirement can be a great opportunity to spend more time with family, travel, and pursue hobbies, but it’s not without significant drawbacks. At retirement, there is a significant financial adjustment. As a retiree, you shift from contributing to your retirement portfolio to steadily pulling money from your nest egg. The typical retirement age is around 65, and the average life expectancy is 85. According to the Social Security Administration, a quarter of those who reach 65 will live beyond age 90. If you retire at 65, your retirement nest egg will need to cover expenses for at least 20 to 25 years, increasing to 30–35 years if you retire at 55.

Understandably, one of the biggest concerns in retirement is outliving your money. Before considering early retirement, calculate how much will be needed to meet your desired lifestyle, including inflation and unexpected expenses. Keep in mind that early retirement results in a double whammy—you both start drawing from your portfolio and stop saving and contributing sooner.

CONTINUE READING


CONTACT US
  • Phone:

    (336) 760-4829

  • E-Mail:

    This email address is being protected from spambots. You need JavaScript enabled to view it.

CONNECT WITH US ON SOCIAL MEDIA

RETURN ON LIFE (TM) and Life centered planning (tm) are both protected terms and used by permission from https://www.lifecenteredplanners.com/

Compliance & Regulatory Information
Privacy Policy
Form ADV, Part 2A & B

Accruent Wealth Advisors is a registered investment advisory firm registered with the State of North Carolina.
Copyright © 2018 Accruent Wealth Advisors. | Disclaimer | Powered by AdvisorFlex and was designed with love by Illuminated Advisors.