Can You Retire Earlier Than You Think?
For decades, 65 has been considered the traditional retirement age. It’s the age most Americans name when asked about their retirement expectations.
But according to recent research from the Employee Benefit Research Institute, the median retirement age in the U.S. is actually 62. That’s three years earlier than expected. And for many, that early retirement isn’t a well-earned celebration. It’s an unplanned necessity.
As CBS MoneyWatch recently reported, most Americans retire far earlier than they intend, often due to factors beyond their control. Health concerns, layoffs, caregiving responsibilities, or shifting priorities can fast-track retirement before financial readiness. Which means that retirement planning isn’t just about preparing for 65, it’s about building the flexibility to retire whenever life requires you to.
And if you’re among the growing number of people who want to retire early? You’ll need a proactive approach to make that vision a reality.
Table of Contents
- What Does Retirement Planning Really Involve?
- Why Do So Many People Retire Earlier Than Expected?
- How Can I Build a Plan That Supports Financial Independence?
- Should I Work With a Professional Wealth Advisor?
What Does Retirement Planning Really Involve?
Whether you dream of early mornings on the golf course or plan to launch a second career, retirement planning is the foundation that supports your long-term freedom.
It’s all about clearly defining your goals, understanding your timeline, and creating a path that fits both.
When you build a strategy early, you create options. Even if you don’t retire at 55 or 60, the ability to do so offers peace of mind and a greater sense of control over your life.
A comprehensive retirement strategy considers:
- Income needs (both now and later)
- Health care costs
- Tax implications
- Social Security timing
- Investment risk and return
- Legacy planning
Each element helps build the structure for a secure future, and working with a wealth advisor ensures those pieces are aligned with your unique goals.
Is It Realistic For Me To Retire Early?
The concept of early retirement used to be a luxury but now, it’s a legitimate goal for many professionals.
But retiring early isn’t about hitting a magic number. It’s about reaching financial independence, the point where work becomes optional because your assets can support your lifestyle.
Here are just a few of the benefits of early retirement:
- Freedom to choose how you spend your time
- More time for family, travel, or personal pursuits
- Less pressure to continue in a high-stress career
- Flexibility to explore part-time work or passion projects
- Healthier lifestyle opportunities earlier in life
- Better control over your schedule and environment
Even if you’re not certain you’ll retire early, building the option into your plan means you’re prepared, whatever life throws your way.
How Can I Build a Plan That Supports Financial Independence?
Early retirement doesn’t just happen. It’s the result of disciplined planning, smart decision-making, and a strategy tailored to your personal goals.
It starts with setting a clear timeline and understanding your financial independence number: the point at which your assets can support your lifestyle without relying on earned income. From there, it’s critical to maximize contributions to your retirement accounts, such as a 401(k), Roth IRA, or HSA, to take full advantage of tax-advantaged growth.
Beyond savings, your investment strategy needs to balance growth potential with appropriate risk, especially as your timeline shortens.
You’ll also want to plan ahead for healthcare expenses before Medicare kicks in, which can be a major cost if you retire before age 65. A tax-efficient withdrawal plan is equally important, ensuring your money lasts as long as you need it to while minimizing unnecessary tax burdens. And because life (and the markets) can change, your retirement strategy should be reviewed and adjusted regularly.
Ultimately, the path to financial independence is unique to you. Your income, savings rate, spending habits, and lifestyle goals all play a role in shaping the plan that fits best.
Should I Work With a Professional Wealth Advisor?
Trying to build this plan alone can feel overwhelming.
A fiduciary wealth advisor acts as your guide, helping you align your resources with your goals while avoiding costly mistakes.
At Concenture Wealth Management, we help clients create retirement plans that are both ambitious and adaptable. Whether you’re planning to retire early or simply want to be ready when the time comes, we’ll work with you to design a strategy you can trust.
Let’s talk about what your version of financial independence looks like, and how to make it a reality.
