It’s easy to assume that the whole point of early retirement is to be able finally to stop striving. To stop working toward that next promotion, and to stop letting money be a big motivator in your decision-making. And while those two instances in particular are true, early retirement doesn’t have to mean the end – nor should it – of your ambition.
We’re supposed to save 2 times our salary by age 35, or is it 25 times our expenses to retire early? We’re supposed to ignore Social Security, but also claim it at 62 to hedge against market risk. We should try to get out of debt as quickly as possible, but also paying off a mortgage early is missing out on potential market gains. There is so much “truth” out there, so many “right” answers, and many of them conflict. How to make sense of them and decide which are actually true? Start by tossing out the whole notion that financial truth exists in the first place.
Whether you need to buy exchange health insurance for 2019 or you’re just planning for future years in early retirement, it’s worth doing your homework now on health care costs and factors. To make that easier, I’ve highlighted the most important factors to consider and how to do the best research based on your situation.
If you care at all about world travel, you already know all about planning your trips during off-peak periods. And while that saves money, it pales in comparison to being agnostic and opportunistic about where you travel. Here’s how to do it, and why you should.