If you want to retire early, there are some important considerations you need to keep in mind. How are your investment accounts taxed? What about Medicare and Social Security? Should you wait or go for it now?

Jaeden May from Adams Wealth Advisors goes over how to plan for an early retirement and outlines how to structure your plans into the future.

*Connect with Jaeden here:*

A Health Savings Account is an incredibly powerful way to supercharge your retirement wealth. The triple tax advantage of HSAs is hard to ignore, and in this video, we’ll show you 4 easy ways to put your HSA on steroids. We go over the important tax benefits and investment options. Don’t miss out on this smart saving strategy!

Here is a list from Health Equity of Qualified Medical Expenses (QME):

Need help? Email me!
Erik@TheRetirementNerds.com
Visit our website:

Join our newsletter:

====================================

This video is NOT sponsored.

The Retirement Nerds is the no-cost educational platform and serves to offer information around Medicare, Social Security, Financial Planning, and Estate Planning.

⏰ TIME CODES ⏰
0:00 When Can I Retire?
3:15 Healthcare considerations
4:45 Income Control
6:22 Options For Work Investment Plans
10:35 Traditional and Roth
12:05 Taxes
15:54 The Side Hustle
19:09 Psychology of Spending
20:18 Accessing Retirement Accounts Early
25:30 When Can You Retire?
28:38 Common Pitfalls
30:25 Just the Start
32:18 How to Prepare

=============================
#retirement #retirementplanning #90daysfromretirement

Federal Disclaimer:
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all your options.

Disclosure:
This podcast is intended for informational purposes only, and is not a substitute for personal advice from Adams Wealth Advisors. This is not a recommendation, offer, or solicitation to buy or sell any security. Past performance is not indicative of future results. There can be no assurance that investment objectives will be achieved….(read more)

LEARN MORE ABOUT: Qualified Retirement Plans

REVEALED: How To Invest During Inflation

HOW TO INVEST IN GOLD: Gold IRA Investing

HOW TO INVEST IN SILVER: Silver IRA Investing

Early retirement is a dream for many, but it requires careful planning and consideration to ensure a smooth and successful transition. A common mistake that many people make when planning for early retirement is failing to consider the various factors that can impact their financial security and well-being. By avoiding these common early retirement mistakes, you can increase your chances of a successful and fulfilling retirement.

One of the most common early retirement mistakes is underestimating the amount of money you will need to live comfortably. Many people assume that they will be able to live on a lower income in retirement, but fail to take into account the rising cost of living, healthcare expenses, and other unforeseen financial obligations. It is important to have a solid financial plan in place that takes into account these factors and ensures that you have enough savings and investments to support your desired lifestyle in retirement.

Another common mistake is failing to consider the impact of inflation on your retirement savings. Inflation erodes the purchasing power of your money over time, which means that you will need more money in retirement than you do now to maintain the same standard of living. It is important to factor in inflation when calculating how much money you will need in retirement, and to invest your savings in a way that will help them grow over time to keep pace with inflation.

A third common early retirement mistake is not taking into account the potential for unexpected expenses or emergencies. No matter how well you plan for retirement, unexpected events such as medical emergencies, home repairs, or market downturns can have a significant impact on your financial security. It is important to have an emergency fund in place to cover unexpected expenses and to have a plan for how you will handle any emergencies that may arise in retirement.

Lastly, one of the most common early retirement mistakes is failing to consider the psychological and emotional aspects of retirement. Retirement is a major life transition that can impact your sense of purpose, identity, and social connections. It is important to have a plan for how you will stay engaged and active in retirement, whether through hobbies, volunteering, part-time work, or other activities that bring meaning and fulfillment to your life.

In conclusion, early retirement can be a fulfilling and rewarding experience, but it requires careful planning and consideration to avoid common mistakes that can jeopardize your financial security and well-being. By avoiding the most common early retirement mistakes, you can increase your chances of a successful and satisfying retirement. Take the time to create a comprehensive financial plan, consider the impact of inflation and unexpected expenses, and plan for how you will stay engaged and fulfilled in retirement. With careful planning and foresight, you can achieve the early retirement of your dreams.