3. Retire at the age of 65
If this might sound weird, you need to know that this is also one of those retirement myths. Because it’s probably well-known that a lot of people actually dream about the day when they will be 65 and quit their job for good.
Aaah… the good ole’ retirement days! Because of this inflation issue, a lot of seniors actually want to work for even longer periods of time.
In an ideal world, you might be able to afford to quit at 65, but in 2023, it may not be a good idea. You will start to notice that your health isn’t that strong anymore and, oh man, how expensive has everything gotten?!?
Start thinking about saving more and if you are healthy and able to work for a couple more years, please do!
Retiring can be a pretty complicated matter, especially if you are not well prepared for it! To help you get started or aid your retirement planning, we recommend you take a look at this book: Retirement Planning: 401k vs Roth 401k, IRA vs Roth IRA.
One Response
I retired and my husband passed away three months later. He was self employed and did not believe in retirement planning. I am so happy that I did. Every point made in this article is true. I work two part time jobs and receive Social Security and retirement.