Early retirement can be tempting, but it’s essential to ensure you’re prepared financially.
Everyone’s retirement savings goal varies. While some aim for that coveted $1 million mark, others might need more or less to maintain their desired lifestyle.
One common suggestion is to stash away enough to replace about 80% of your pre-retirement earnings. However, if globe-trotting or indulging in luxurious hobbies is in your future, you might need a bit more.
Conversely, if downsizing or relocating to a more affordable city is in your plans, perhaps you can make do with less.
Bottom line? Ensure you’ve crunched the numbers tailored to your unique retirement vision. Remember, topping up your savings today might save you from a potential work-return later.
Curious about the other signs? Dive in to find out more and see if you’re truly ready for that early retirement dream.
