Semi-Retire Plan
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In the five years I’ve run my website, Intrepid Daily, I’ve talked to a ton of people who want to leave the working world behind them, and most of them don’t just want to avoid work. If you’re in the process of retiring, semi-retiring, or even just starting to plan for retirement age in the future, there is no better time to start leading a more adventurous life than now. Instead, consider introducing adventure into your daily life by adopting an adventurer’s attitude, then letting the small steps compound into significant lifestyle changes. If you want to lead a more adventurous life during your semi-retirement, embrace one of the core tenets I teach on my website — start now, not later.
Forrest is the owner of Don’t Work Another Day, a personal finance, investing, and entrepreneurship blog dedicated to helping others live a life on their own terms. Forrest: I decided to start Don’t Work Another Day after I realized working a typical 9-5 job for the rest of my life would not make me happy. Forrest: While there is a long debate on whether saving money or making more money should be at the forefront of your finances, I certainly lean towards to latter. The best quote I’ve heard about blogging is “the best time to start a blog was 10 years ago.
* Using a median-earning married couple with two children as an example…Marginal federal income tax rate was higher in 1980 than todayThe capital gains tax rate was higher in 1980 than todayThe likely retirement bracket tax rate was higher in 1980 than todayInterest rates were higher in 1980 than todayTherefore, the tax benefit of the 401k plan in 1980 was higher than it is today The likely retirement bracket tax rate was higher in 1980 than today * Interest rates were higher in 1980 than today * However, today’s investors aren’t choosing between the option to (1) invest in 401k plans today or (2) invest in 401k plans in 1980. Instead, Brown should have compared today’s 401k options to investor’s current alternatives.
There’s no such thing as a “normal” early retirement package since it will depend on the employer’s specific financial standing, but let’s break down one example here. None Pension: Age credit to increase you to 65 years of age to qualify for the pension’s maximum benefits None Pension: Age credit to increase you to 65 years of age to qualify for the pension’s maximum benefits None Pension: Age credit to increase you to 65 years of age to qualify for the pension’s maximum benefits