Most people retire in their 60s, and the average age of retirement has been steadily climbing for years. But that doesn’t mean you have to wait until then to retire. Many people retire early and doing so can help you enjoy more experiences, take more pleasure in your everyday activities and help you achieve your life goals.
Saving enough money to retire in your early 60s, or earlier, can be a long and tough journey. But the reward of not having to answer to your boss is well worth the struggles. Aside from the time you gain when you retire and the freedom you enjoy, there are additional benefits many early retirees enjoy.
New York Medicaid Consulting, your Medicaid planning service, offers the benefits of retiring early.
There are Still Plenty of People to Hang With
You might think that retiring wealthy means sitting at home all alone during the week while your friends are at work.
This might hold some truth to some extent, but it doesn’t mean nobody will be available to do things with you Monday through Friday.
Just go to an afternoon baseball game or pay a visit to the local zoo, aquarium or museum. You will find that these places are packed with people. Not everyone can make an afternoon baseball game every day, but they can certainly catch one every once in a while.
Also, don’t underestimate the number of people who are not retired, but don’t work a typical 9-to-5 Monday through Friday schedule.
You Save Money
Many retirees don’t spend as much money as they did before they retired because they have all the time in the world to search for great deals. When you have the time to look for deals and negotiate, it is not as difficult to score killer deals.
For example, you can go to an afternoon movie during the week for a lot less than seeing the same movie on Friday evening. And if you want to buy something, you simply wait until it goes on sale. The fact that you can travel off-season will save you a lot of money as well.
New Interests
Having a whole bunch of free time while you are younger allows you to find new interests that really excite you.
A younger retiree will have more strength and energy to travel. Perhaps there is a hobby you want to start or a sport or activity you want to enjoy. It is far better to start playing racquetball or get into mountain biking when you are in your 50s.
There is an unlimited number of things you can do when you retire, it would be nice to have the time, strength and energy to try as many as you can.
You Will Probably Be Healthier
Less stress isn’t the only health benefit you will enjoy with early retirement. Because you are no longer forced to sit at a workstation means you have plenty of opportunities to get more exercise. Besides, as we all know, sitting will kill you.
Increased Income
If you would like to retire early, you need to start planning for that right now. This means you need to save money and make wise investments. You might even go as far as getting a part-time job or finding other sources of revenue to ensure you reach your goal.
Working harder and smarter right now may bleed into your free time, but in the end, it will be totally worth it.
New Opportunities
Many of you have probably never considered retiring to pursue a new business opportunity. There may have been a new business idea stuck in your head for years, but you had to sit on it because you lacked the time to do anything about it.
Statistics show that Americans over the age of 65 are more likely to be self-employed than any other age group. Early retirement will allow you to venture out and enjoy success on a whole new level.
Time to Travel
Most of us dream about all of the wonderful and exotic places we will visit when we retire. Unfortunately, if we wait too long to retire, we will have lost our mobility and strength and that will make travel more difficult.
Early retirement means more years to have before health issues start setting in.
Medicaid is our specialty and New York Medicaid Consulting will develop a plan to protect your assets. Call today.
