Speculation about Peyton Manning’s retirement from the NFL is this week’s inspiration. We share a few thoughts on preparing for an early retirement.
Live below your means. One rule of thumb holds that you need to save 25 times your annual budget by retirement. Generating a nest egg of that size involves years of frugality and a discipline to ensure your money lasts. Click here to read the full article
Budget for healthcare. A recent fidelity survey found that early retirees should anticipate an additional estimated cost of $17,000 per year for healthcare costs. The extra costs are for health insurance premiums for the period prior to Medicare eligibility and estimated out-of-pocket expenses. Click here to read the full article
Tend to your psychological portfolio as much as your financial one. Too few people consider the psychological adjustments that accompany retirement. People need to invest as much if not more time in their social or psychological portfolio planning before retirement, to figure out what makes them happy. It’s simply not enough to focus on building financial assets. Click here to read the full article
We hope you enjoy reading these articles. Please forward to your family and friends.
J. Mark Nickell & Co.
Disclosure – The articles mentioned in This Week with J. Mark Nickell & Co. are for information and educational purposes only. They represent a sample of the numerous articles that the firm reads each week to stay current on financial and economic topics. The articles are linked to websites separate from the J. Mark Nickell & Co. website. The opinions expressed in these articles are the opinions of the author and not J. Mark Nickell & Co. This is not an offer to buy or sell any security. J. Mark Nickell & Co. is under no obligation to update any of the information in these articles. We cannot attest to the accuracy of the data in the articles.