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Early retirement gone wrong: how to make sure your FIRE plans don’t get derailed

“If you miscalculate your future expenses, you could end up exhausting your nest egg ahead of schedule” writes Markets Reporter for marketwatch.com. In fact, the biggest unexpected cost in retirement is a major home repair, according to a Society of Actuaries study on unexpected or shocking retirement expenses.If your early retirement is a team effort as part of a marriage or committed partnership, experts say you need to make sure you also plan for if it were just you.For members of the FIRE movement — short for “financial independence, retire early” — good planning and a frugal lifestyle can help you achieve a lifetime of financial freedom. A divorce after retirement was one of only two categories, along with major long-term care, in which respondents said they felt they couldn’t make adjustments and deal with unexpected expenses in retirement.
 
Source: marketwatch.com



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