August 6

061 | Think Twice Before Retiring Early (Learn About the Penalties)


Early retirement sounds great in theory, but have you ever thought through all the increasing risks of running out of funds?

Additionally, retiring early may result in a loss of social connections and a sense of purpose, potentially impacting mental and emotional well-being.

This is something Dave knows all too well.

In this episode, Dave is going to go a bit more in-depth on this subject of retiring early as he weighs both the good with the bad.

It's important to consider all possible options before taking social security. Taking the benefits early is PERMANENT!  

That said, if you have become a student of personal finance, and are practicing some of the key lessons I’ve shared over the past year or so, YOU will win with money and YOU will have a really good retirement!

Questions for Review: 

  • Are you hoping to retire early?
  • Have you considered when you might want to start taking social security?
  • What would an ideal life look like for you when you do choose to retire?

Verse From the Episode: "The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty." -Proverbs 21:5


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