Should I Speak to My Retirement Advisor About Retiring Early: What Are the Pros and Cons?
The economy throughout the course of the pandemic has been a rollercoaster. During three months of COVID-19, the unemployment rate in the U.S. grew more than it did in two years of the Great Recession.1
For individuals nearing retirement, economic uncertainty is all the more unsettling. It raises the question: should you consider retiring earlier than you originally planned? Before making a decision, be aware of the special considerations that retiring early entails.
Considerations of Retiring Early
Retirement requires lifelong planning, in addition to adequate preparation in the years preceding your eventual retirement. If you’re thinking about pushing up your planned retirement even earlier, there are certain questions you need to ask.
With the pandemic still not showing any signs of slowly down, the economy is continuing to take a hit. Not only are individuals, especially the elderly, still feeling the effects of the shutdowns. Now adding inflation to the mix, it can be unsettling. For those who are nearing retirement, economic uncertainty can cause them to worry if they should retire when originally planned or if it would be beneficial for them to retire early. Many of them are unaware of what early retirement entails as well as choosing not to work with a professional financial advisor to help guide them.
Retiring early has its pros and cons, just like with everything else. A knowledgeable retirement advisor would be the best asset to help you learn about the pros and cons of retiring early as well as communicating if early retirement would benefit you. Sage Investment Advisers LLC, located in Poughkeepsie, NY, meets with each client and reviews their individual financial situation to determine if early retirement is the right strategy.
Considerations of Retiring Early
Retirement requires lifelong planning, in addition to adequate preparation in the years preceding your eventual retirement. If you’re thinking about pushing up your planned retirement even earlier, there are certain questions you need to ask.
Consideration #1: Retirement Savings & Investments
The foremost thing to consider is your retirement savings. Are you in a good place financially to retire, especially considering that you’re losing extra time to save and will need to stretch your savings over a longer period of time? The last thing you want is to retire early without adequate savings, forcing you to sacrifice the quality of your retirement.
Additionally, how are your investments looking? As you near retirement, it’s likely that you’ll need to adjust your assets to be more conservative. If you’ve already made these adjustments in preparation for retirement, you’re likely in a good spot. If you’re still investing more aggressively with more short-term losses due to the recession, you may want to reconsider.
Consideration #2: Health Insurance
If you’re looking at retiring before 65, there’s a chance you’ll need to acquire health insurance before you’re covered by Medicare. As you age, health insurance gets more and more expensive. This means you’ll need to factor this in as an extra expense to determine if you can afford to retire early.
Consideration #3: Social Security
Social Security benefits are available to you as early as 62 years old, but don’t let that fool you. If you start collecting benefits before your full retirement age, determined by your year of birth, your benefits will be smaller.2 If your early retirement plans also include collecting Social Security, this is another financial consideration to acknowledge.
Consideration #4: Post-Retirement Plans
Do you want to retire early only because you’re overwhelmed by the current state of affairs? While this certainly isn’t a trivial reason, it’s important to evaluate whether or not you’re actually ready to retire.
Do you have a plan for what you want to do with your retirement, and are you ready to get started on it? Are you ready to actually finalize your career, or is there a possibility you’ll quickly bore of your early retirement?
Perks of Retiring Early
If you’ve considered all of the above and find yourself certain about your early retirement, there are a few perks. It could reduce your stress levels from work, giving you more time to explore recreational hobbies. You can spend more time with your family and spend more time traveling, or you can even get a head start a new business venture you’ve been looking forward to.
Early retirement is not as simple as many think it is. There are a number of factors that can either be advantages or disadvantages, such as not having enough retirement funds to support your intended retirement lifestyle; a retirement planner will determine if you have the ability to save enough in a specific period of time. An experienced and knowledgeable retirement planner will also analyze your current financial situation to advise you if early retirement will benefit you or if you should wait.
Published by Sage Investment Advisers, LLC in Poughkeepsie, NY
June 23, 2025 Sage Investment Advisers, LLC Named 2025 Best Financial Planner in the Hudson Valley WAPPINGERS FALLS, NY — Sage Investment Advisers, LLC, a trusted and local fiduciary firm based in Wappingers Falls, is thrilled to announce they have been chosen as Best Financial Planner in the Hudson Valley for 2025 , by Hudson Valley Magazine. Sage Investment Advisers beat out many other local financial planners and advisory firms to win the title of Best Financial Planner in the Hudson Valley. The Best of the Hudson Valley is an annual competition from Hudson Valley Magazine, where locals vote for their most beloved local businesses in each category. “We are honored to be named Best Financial Planner in the Hudson Valley,” said Jerry Schuder, President of Sage Investment Advisers. “This recognition validates the daily efforts of our team, working tirelessly to guide clients in retirement planning, investment management, and wealth preservation with integrity and care.” Sage Investment Advisers serves clients throughout the Hudson Valley region, including Wappingers Falls, Poughkeepsie, and beyond, offering tailored financial strategies, retirement planning, Social Security optimization, and real estate advisory services. Sage is dedicated to providing their clients with custom financial and retirement strategies to help them plan their retirement and legacy. This latest achievement adds to their list of other prestigious awards which include: 2024 Readers’ Choice: Best Financial Advisor – Hudson Valley , awarded by Daily Voice facebook.com+15dailyvoice.com+15sageinvestmentadvisersllc.com+15 Multiple Five‑Star Wealth Manager Awards (2012–2016, 2022–2025), presented by Five Star Professional fivestarprofessional.com+2fivestarprofessional.com+2fivestarprofessional.com+2 Recognized growth as the Hudson Valley’s #1 fastest-growing wealth management firm in prior industry rankings m.facebook.com+10sageinvestmentadvisersllc.com+10fivestarprofessional.com+10 Best Financial Advisor Firm (2024-2025)-Hudson Valley, awarded by USA Today “Being part of this Hudson Valley community means everything to us,” added Vice President, Joe Guarneri. “This award reflects our clients’ confidence and the strength of our fiduciary-driven practice.” ---------------------------------------------------------------------------------------------------------------------------------------------------------- About Sage Investment Advisers, LLC Located at 1829 South Road, Wappingers Falls, NY , Sage Investment Advisers is a local fiduciary wealth management and financial planning firm. The team combines financial and investment knowledge with decades of experience to offer custom investment strategies, retirement roadmaps, Social Security optimization, college planning, and real estate advisory services—all designed to empower clients to pursue financial peace and legacy building. Contact Jerry Schuder President, Sage Investment Advisers, LLC (845) 240‑1551 info@sageinvestmentadvisersllc.com Website: sageinvestmentadvisersllc.com Sage Investment Advisers, LLC , serving as Hudson Valley’s premier fiduciary firm, is honored to be named Best Financial Planner for 2025 , and remains dedicated to helping clients build their wealth, retirements, and legacies.
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