| The advantages of early retirement extend | | | | retirement incentive plans provide less instead of |
| beyond having more time, reduced stress and | | | | more. Ultimately, if you were planning to retire |
| independence. Those are benefits of retiring in | | | | early anyway, face involuntary retirement or |
| general, not just retiring early. Retiring before the | | | | have alternative options after retirement; |
| full retirement age (usually 65) - has specific | | | | incentive plans for retiring early may give you |
| advantages that should form part of your decision | | | | more than other alternatives. |
| to retire early. | | | | Full benefits in some jobs |
| Greater longevity | | | | Certain jobs offer employees full benefits once |
| When you retire earlier, you are likely to spend a | | | | they have worked for a minimum number of |
| longer period in retirement. While this can be | | | | years. In certain cases, you can attain full benefits |
| disadvantageous, once you plan properly it will | | | | at or before age 55, so retiring early might not |
| redound to your benefit. Not all early retirees will | | | | severely hamper your early retirement plans. |
| have a higher life expectancy, so the good news | | | | When working beyond the minimum number of |
| is that retiring early may not necessarily suggest | | | | years does not significantly affect your |
| that you will spend 20 or 30 years in retirement. | | | | retirement benefits, early retirement is a fair |
| Greater longevity makes it likelier that you will | | | | option. |
| enjoy more golden years. | | | | Part-time options |
| A longer period with lower medical risks | | | | Early retirement puts you in a better position to |
| Retirees have a higher probability of becoming ill | | | | pursue options other than full retirement. Since |
| once they pass age 70. That is why a lot of | | | | you are not way beyond your prime when you |
| insurers stop medical coverage at or around that | | | | retire early, you have a better chance of taking |
| age. Retiring early is a good way to ensure that | | | | advantage of the skills your experience without |
| you stand a better chance of enjoying a portion | | | | being too old to do so. |
| of your retirement when you are healthy (or at | | | | The advantages of early retirement may not |
| least healthier). | | | | easily outweigh its attendant disadvantages. In |
| Incentive plans | | | | making the decision to retire early, you must be |
| Some employers offer early retirement incentive | | | | able to benefit from it in at least one way. Since |
| plans or packages. These plans have to be | | | | the disadvantages of early retirement tend to be |
| assessed properly in light of the true benefit, | | | | financial, it follows that you should have a financial |
| however. In the majority of cases, early | | | | advantage of retiring early as well. |