Six and a Half Ways to Bridge the Early Retirement Gap Story

Six and a Half Ways to Bridge the Early Retirement Gap to Age 59 and a Half

What is the early retirement gap? It is the time between when you FIRE and when you turn age 59.5 and can access your traditional retirement funds.

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At age 59.5, you’re likely on dry land as you can now access your 401K, 403B, and IRA from all those years of work without getting slapped with a 10% penalty for early withdrawal.

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There are certainly ways to retire early and to have the income we need to do so, but we need to make a plan. Here are 6.5 of the best ways to have the money you need to retire early.

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Six and a Half Ways to Bridge the Early Retirement Gap to Age 59 and a Half

A lot of early retirees advocate for having a year or two of annual expenses saved up in cash reserves. There are two major advantages to this tactic.

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First, This is a great way to make sure that you truly have enough in retirement. The second reason is that it is the easiest way to bridge the early retirement gap!

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Another source of money to bridge your early retirement gap is your taxable account. This is likely the first account that you should draw down in retirement.

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Number 3: Partial FIRE

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Number 4: Access your 457 in early retirement

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Six and a Half Ways to Bridge the Early Retirement Gap to Age 59 and a Half

What is the early retirement gap? It is the time between when you FIRE and when you turn age 59.5 and can access your traditional retirement funds.

At age 59.5, you’re likely on dry land as you can now access your 401K, 403B, and IRA from all those years of work without getting slapped with a 10% penalty for early withdrawal.

There are certainly ways to retire early and to have the income we need to do so, but we need to make a plan. Here are 6.5 of the best ways to have the money you need to retire early.

Six and a Half Ways to Bridge the Early Retirement Gap to Age 59 and a Half

A lot of early retirees advocate for having a year or two of annual expenses saved up in cash reserves. There are two major advantages to this tactic.

Number 1: Cash Reserve

First, This is a great way to make sure that you truly have enough in retirement. The second reason is that it is the easiest way to bridge the early retirement gap!

Another source of money to bridge your early retirement gap is your taxable account. This is likely the first account that you should draw down in retirement.

Number 2: The Taxable Account

Number 3: Partial FIRE

Number 4: Access your 457 in early retirement

SWIPE UP NOW TO READ MORE

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