Many of the people who are thinking about retiring early are doing so because they can no longer cope with the stress of the corporate world.
These are people that are only in their mid 50s, and want out of their jobs, the sooner the better.
A lot of these people work for companies that will continue to offer them health insurance, plus they have a large sum in their 401k plans, and can start taking withdraws at 55 without penalty.
There is no doubt that too much stress is not something that anyone should deal with; stress is bad for your mental and physical health.
At the same time, if you are earning a great deal of money at your job you may want to ask yourself a few questions before you make the decision to retire now.
Can you find another way to deal with the stress of working? If you can, it is best to continue working, at least another few years.
To retire in your 50s you need a lot of recourses available, and even those with impressive portfolios may not have enough to last them through a long retirement.
If you retire now, will you be losing out on a lot of benefits.
In many cases working a few more years can make a big difference in the benefits that you'll receive, such as your pension or the employer's contribution to your 401k.
Another option to retirement would be to work as a consultant.
Can you replace your job this way? If you can continue to earn money and save for retirement, while reducing the amount of stress that you deal with on an everyday basis, you will be in a much better financial position later, when you are ready to retire.
Can you help reduce the stress by taking a long vacation? It is a fact that a lot of Americans in high-pressure jobs simply don't take enough time off of work.
Instead of taking a short vacation or skipping your yearly vacation altogether, take a couple of week off of work to just lounge on a beach.
You'll be surprised at how much better you feel when you return to work.
For those that don't have the option of retiring early due to funds, and the fact that their company will not continue to offer medical coverage, there isn't any choice but to continue working and deal with the stress.
No matter how you look at it, unless you are a millionaire, retiring too early isn't usually a good idea.
These are people that are only in their mid 50s, and want out of their jobs, the sooner the better.
A lot of these people work for companies that will continue to offer them health insurance, plus they have a large sum in their 401k plans, and can start taking withdraws at 55 without penalty.
There is no doubt that too much stress is not something that anyone should deal with; stress is bad for your mental and physical health.
At the same time, if you are earning a great deal of money at your job you may want to ask yourself a few questions before you make the decision to retire now.
Can you find another way to deal with the stress of working? If you can, it is best to continue working, at least another few years.
To retire in your 50s you need a lot of recourses available, and even those with impressive portfolios may not have enough to last them through a long retirement.
If you retire now, will you be losing out on a lot of benefits.
In many cases working a few more years can make a big difference in the benefits that you'll receive, such as your pension or the employer's contribution to your 401k.
Another option to retirement would be to work as a consultant.
Can you replace your job this way? If you can continue to earn money and save for retirement, while reducing the amount of stress that you deal with on an everyday basis, you will be in a much better financial position later, when you are ready to retire.
Can you help reduce the stress by taking a long vacation? It is a fact that a lot of Americans in high-pressure jobs simply don't take enough time off of work.
Instead of taking a short vacation or skipping your yearly vacation altogether, take a couple of week off of work to just lounge on a beach.
You'll be surprised at how much better you feel when you return to work.
For those that don't have the option of retiring early due to funds, and the fact that their company will not continue to offer medical coverage, there isn't any choice but to continue working and deal with the stress.
No matter how you look at it, unless you are a millionaire, retiring too early isn't usually a good idea.
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