As Covid-19 continues to put pressure on corporate profits, many companies have been offering their executives early retirement packages. The question is, "does it make sense to take one?"
The answer to this question depends on many factors, but ultimately what matters most is how your early retirement will impact your retirement projections. We say "run the numbers" before you decide.
Important considerations include:
- Health Insurance Needs - Are you old enough for Medicare?
- How will it impact your Social Security?
- How much can you live on based on your age and current savings?
Early retirement can have a big impact on your financial security during retirement. Make sure you review your options and understand the impact.