The paradigm around retirement is fueled by past generations
- Silent generation (born 1928 - 1945) ~ Ages 80-97
- Baby boomers (born 1946– 1964) ~ Ages 61-79
- Generation Xers (born 1965– 1980) ~ Ages 45-60
The rule-of-thumb "wait until you’re at least age 62 to retire” is common for Baby Boomers (slightly less common for Gen Xers). For many, retiring before age 62, is associated with guilt and the need to be on the defensive. The minimum retirement age of 62 is associated with the minimum age that one can start collecting social security. Short of that it's an arbitrary number.
For Baby Boomers, the Silent generation is the main culprit
For Gen Xers, the Silent generation or by proxy through the Baby Boomer generation, are the culprits.
Quality Time Remaining (QTR)
- Thinking about the feasibility of retiring "before you're supposed to"?
- Realize that your time remaining and quality time remaining, are limited.
take the first step to consider retirement.
When considering retirement, having a basic understanding of some key components is critical*:
When to collect:
- Social Security & Pensions
Options for early access to retirement funds:
- IRA's, workplace retirement plans (401k/403b)
- HSA
Access the equity in your home - with no payments:
- Reverse mortgages - clear up the misinformation
The basic components:
- Medicare
- Estate planning - Wills & Trusts
- Your credit history & protecting your credit for free
*While there are numerous other components that may play a factor into your retirement decision, we begin by focusing on a basic understanding of common facets.
The comments and information provided by SnapshotRetirement.com are for informational purposes only and do not constitute legal, financial, or professional advice. Readers should consult with a qualified professional for advice specific to their situation
Understanding the myths and misinformation, might make all the difference in your retirement decision!