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Where will my retirement paycheck come from?
Another critical part of evaluating one's readiness to retire early is to determine how to recreate a paycheck in retirement. During our working years, most of the focus of our saving and investment is to grow our next egg for a future retirement. Now that you are at the point of considering early retirement, you'll need to figure out how to create a monthly income to cover your needed expenses and have the cash to do the things you want to do in retirement.
Think about future taxes if you have a NQDC
Nonqualified Deferred Compensation Plans can offer high tax deferral now but be careful of potential pitfalls. While many participants in NQDC plans assume they’ll be in a lower tax bracket in retirement, things can change along the way.
3 Things Your Financial Advisor Should Help With (That Aren't Investments)
While most people think of investments when they look for a financial advisor, there are three very important topics a good financial advisor should be addressing for their clients. Great financial advice will help you cover potential risks to your plans, look for ways to legally minimize your tax bill, and make sure your estate is protected for the ones you love.
Do you really need a financial planner?
Even if you have a solid financial education, working with a financial planner can provide important benefits for your financial well-being. Hiring a professional who has the time, expertise and dedication to help you make the best decisions for yourself can be invaluable.