Retiring early?

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Whether by choice or because of circumstances, early retirement poses some challenges. This article, “Want To Retire Early? 5 Challenges To Overcome” by Erik Carter at Forbes, looks at the financial aspects. Primary is that you must save more and earlier. Even if you did, you won’t have access to retirement funds without penalty until later and spending too much too early can affect how long your funds last.

Retiring to an RV can be a cheaper way to live but still things happen like repairs or replacement of your RV. And you need to consider what you will do if you decide to get off the road. In our book, Retire to an RV: The Roadmap to Affordable Retirement, we discuss some low-cost options. And, many early retirees, as well as those who retire at full retirement age, choose to work or volunteer to minimize the amounts they withdraw from their other sources of money. And there are many options there too.

Don’t let these articles scare you. Take any advice that seems to apply or you can implement. If you have lost a job and have few prospects of one that pays the same, you won’t have the option to save more no matter where you live. Deal with it in a rational way in the best way you can. Retiring to an RV could allow you to travel, have adventures on your bucket list in spite of a reduce income. It’s something to consider! Jaimie Hall Bruzenak

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