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Ready For Retirement

4 Steps to an Early Retirement

Ready For Retirement

James Conole, CFP®

Investment Planning, Bonds, Education, Stocks, Cash, Business, Dividend Investing, Retirement Planning, Retirement, Investing, Tax Planning

5706 Ratings

🗓️ 5 January 2021

⏱️ 25 minutes

🧾️ Download transcript

Summary

Our topic on this episode of the Ready for Retirement podcast is about understanding how to plan for an early retirement if you want to retire before your full retirement age. Questions to ask yourself: Why do you want to retire early? Do you not want to work at all? Do you want to work part-time or change careers? What does retirement really look like if everything were to stop today? Are you ready to start focusing on the things that truly matter when it comes to your financial future...

Transcript

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0:00.0

Discover the tips and strategies that will help you achieve your retirement goals.

0:09.3

I'm your host, James Canole, and this is the podcast dedicated to helping you retire well.

0:14.6

It all starts right here on Ready for Retirement. for retirement.

0:28.8

Hi, everyone and welcome to another episode of Ready for Retirement.

0:30.1

I'm your host, James Cannell.

0:36.1

And on today's episode, we are going to discuss and explore what does it take to retire early.

0:39.4

So a lot of retirement planning is focused around the quote unquote traditional retirement ages of 65, 66, 67, kind of whenever you reach what's called full

0:45.1

retirement age for Social Security. And there's a lot of retirement planning strategies that take

0:48.7

place around that. And that works for a lot of people, but some people just want to retire early,

0:53.9

whether early to them

0:55.0

means 60, 55, 50, or even before. What we're going to do on today's episode is understand

1:00.0

what changes with your traditional retirement planning when that retirement is set to take place

1:04.5

much sooner, and what are the things that you need to consider, what are the items and the

1:08.6

issues that you need to work through in order to be

1:11.2

able to do so successfully. So what we're going to do is we're going to explore the four steps

1:15.7

that you need to take. If you want to retire early or if you just want to be financially free

1:19.7

early so that if something happens at work or if you have a bad day or decide that you hate what

1:23.7

you do, you have the freedom to leave. What we're going to do is explore the four

1:27.7

steps that you need to work through in order to determine if you're in a position to retire early.

1:32.7

Let's jump right in. So number one, the first thing that you want to do, whether it's with

1:36.5

retirement planning or really any goal that you have, is ask yourself why. Why, yes, in the

1:41.3

perspective of is it really everything you're going to think it's going to be, what's really driving that decision?

...

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