The Risks of NOT Retiring Early Story

Yes, there are risks when retiring early, and people are quick to point them out when a person makes that choice. What about the risks of not retiring early? Those don’t get as much play.

I suppose ordinary people are not like surgeons at grand rounds. That is, they don’t particularly enjoy talking about morbidity and mortality.

However, there is a very real risk of illness, injury, and death and the closer we get to a typical retirement age, the higher those risks are. We can protect against the financial implications of them with products like term life and disability insurance, but how do we protect against those things destroying our retirement plans?

The best way to maximize the odds of enjoying the long, healthy retirement you’ve got in mind is to retire as soon as you possibly can. That’s just the math.  The longer you put it off, the more likely you are to miss out on the ideal post-career life you’ve envisioned for so long.

The Risks of Retiring Early I should start by pointing out some of the obvious risks you accept when you do retire early. There’s a chance you could run out of money. Working as little as one more year can dramatically decrease your chance of failure.

Your Social Security checks will be smaller. Plan accordingly and forecast your future benefit so you know what you’ll be giving up by retiring early. You might get bored. OK. Go back to work, then.

If you are unprepared for an abundance of free time to hit you all at once, any number of issues can arise. Relationships can be strained. Your social life may suffer if work provided most of it for you. You might take up dangerous hobbies that you never had time for before.

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