Taking Early Retirement - The Reality

Taking early retirement is at the same time exhilarating and scary! Fortunately the scary part can be managed. Eliminate uncertainty and take control of your retirement planning.

There are many reasons why you might have decided to take this step. Hopefully you have educated yourself before you took this step, and you have planned your retirement in great detail.

The reality of early retirement is that there's not going to be a regular paycheck even though there's not going to be work related stress either. Early retirement is about managing your money and your time.

Early retirement will have an effect on your pension and other retirement accounts. Often you would not be receiving your monthly pension pay-out right away.

Educate yourself as to the effect on your personal situation. Visit the various discussions, planners, and calculators on retirement planning on this Website and make sure that you have made provision for a retirement income for life.

With the extra free time you can pursue your passion. My wife and I wanted to travel after we retired and we spent years exploring Italy, France, and Switzerland. But you cannot travel all the time – at least we can't!

And that's where managing your time comes in. There are many ways in which to apply your time and some of these can even earn you an income. We devote an entire section to Retirement Jobs on this Web site.

Whether you start a new business venture or merely do some volunteer work, you'll have to manage your money actively. The outflow tends to grow exponentially and exceed the inflow of income, and the best way to counter that is to find an alternative mode of income.

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