SPAN: up to 15 years

INCOME NEEDS: moderate to high

TOP EXPENSES: travel, hobbies & social

It’s time to Restart, that is Early Retirement.

This is what we normally view as “being retired”. This is the time where you do all the things you’ve always wanted to do but didn’t have the time. Your energy is good, your health is good and you finally get to enjoy being free! This is a time period that can last about 15 years. Your spending is at a moderate to high level relative to your pre-retirement income.

Early retirement is the best time to keep communication open with your family. Start having discussions about what is important to you so that when decisions need to be made later, your family members can help you move in the direction of your wants and needs.

Early retirement is also the best time to plan for the other two phases of retirement. There are ways to structure your finances to plan for the high price of long-term care. Whether it is using long term care insurance or simply having the funds set aside separately for that specific need, whatever your resources are, your Retirement Income Specialist can help create a strategy for managing that risk.

If you haven’t already done so, please make sure to get your will prepared and powers of attorney for both finances and health completed. A lawyer is a must for these documents.