Are you thinking about an early retirement offer? If you have sufficient funds and your insurance policies are also in place, you can easily opt for some early retirement schemes. However, be prudent enough and only decide about early retirement if it is sufficient enough to take care of your finances and lifestyle.
First things first, while deciding on the early retirement offer; you should take into account the financial position of the company. Have an estimate of the benefits and incentives that the company is offering you. Lots of companies offer medicare benefits as well as the salary for the full month. Evaluate the early retirement benefits offered with the benefits that you had received when you were working.
Have an idea of the expenses that you need to make and the amount of money that is needed to fulfill them. See whether the early retirement incentives and the benefits are sufficient enough to cover the expenditure.
Health insurance is also another aspect that you need to look into while deciding to retire early. In most cases, if you are over 50 years, you should be entitled to at least one health insurance plan. Opt for the COBRA continuation coverage if the health insurance benefits are not provided.
Social Security is also another vital factor in determining your decision about early retirement. Try to delay the social security claims as you will be able to enjoy longer returns even if you are not working.
If you are thinking about taking a break and working again, you should understand the size of the job market. In case of recession or economic down slum, jobs are not so easy to get. In such situations, it is better to judge your early retirement plan properly.
Everyone wants to take a break from jobs and lead a stress free life full of enjoyment. If you have that sufficient backing and risk taking ability, early retirement can be a great option for you.