The Curious Mom

Early retirement is normally for those in their 50s but under 65 years old. Many people might consider early retirement if they're in a good financial position, or if they're just sick of their regular job.

Lots of people decide to retire so that they can travel, work on their hobbies, or even just find an easier, part-time job that doesn't take up all of their time.

Some research working longer might help you be happier and healthier in the long run, but that may be because you'll have more money to help take care of yourself. On the other hand, retirement can also help to improve your satisfaction with life.

While retiring early might sound nice, you'll need to consider the financial aspect as well. You are eligible for Social Security at age 62. You can't qualify for your full monthly benefits until you're 66.3 years old.

 

Normal retirement is between 65 and 70. This is the perfect age for retirement because you'll have time to build up a lot of savings. Plus, this is the time when all of your benefits will start kicking in.

You'll also be able to start taking money out of your investment accounts, like your ROTH or your 401(k) without incurring heavy penalties. It's also one of the best ages because a lot of your peers will also be retiring around this time. You could even consider spending your retirement money on relocating to Tellico Village in Tennessee, or somewhere that you've always wanted to live!

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If you absolutely love your job and don't want to leave, you could also work towards a late retirement. Most of these people work well into their 70s, and sometimes even retire when they're in their 80s.

One of the advantages of this is being able to earn more money and continue doing a job that you love. Plus, you'll also be eligible to have the highest Social Security payout.

However, there are still many disadvantages to retiring late as well. For example, by the time you retire, you may not be in good health and be able to physically do all of the things you wanted, like traveling.

Discover More About What the Best Age to Retire Is

These are only a few things to consider to help you decide what the best age to retire is, but there are many more important factors.

We know that planning for retirement can be overwhelming and difficult, but we're here to help you out.

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