Here’s What You Should Consider Before Retiring at Age 50
6/16/202630 min
Learn how to plan for early retirement, bridge healthcare gaps, and build a portfolio that lasts. Host Andrew Giancola breaks down the top myths around early retirement with NerdWallet Wealth Partners CEO, Ryan Sterling. They cover how to calculate your financial independence number, structure your portfolio, and navigate healthcare costs before you can qualify for Medicare. They also rank some of their favorite places to retire and some of their favorite retirement money moves. Check your early retirement readiness with the free NerdWallet Wealth Partners calculator: https://nerdwalletwealthpartners.com/ontrack Interested in working with a financial advisor? Visit nerdwalletwealthpartners.com NerdWallet Wealth Partners LLC (NWWP) is a SEC registered investment adviser. Registration does not imply a certain level of skill or training, nor does it constitute an endorsement by any securities regulator. The content presented by NWWP on its Your Next Dollar podcast is for informational and educational purposes only and is not intended as personalized investment, tax, or legal advice to any person. The views, strategies, examples, and figures discussed are intended to be general in nature, subject to change at any time based upon market or other conditions and may not be suitable for every individual. Any hypothetical illustrations used are for educational purposes only and do not represent a guarantee or prediction of future results. All investments carry risk, including the potential loss of principal, and past performance is not a guarantee of future results. NWWP's investment advisory services are only offered where NWWP and its representatives are registered. Before making any financial decision, seek advice from a qualified investment, tax, or legal professional.
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First 90 secondsAndrew Giancola· Host0:00
Today on Your Next Dollar, we are talking about one of my favorite topics, which is early retirement. And early retirement is the dream for a lot of high earners. You hit your number, you walk away, and you have the flexibility to do what you want with your time, your energy, and everything in between. And so today, we're gonna be talking through some of the top myths and misconceptions around early retirement. We're gonna dive deeper into some of those areas that you haven't thought about. Also, we're gonna talk about the healthcare bridge. What are you gonna do about healthcare if you do retire early? Let's say you retire at 50, what are you gonna do for the next 15 years before Medicare kicks in? And why some people retire early and regret it. We want you to avoid that at all costs, and we want you to think through some of the ways that you can maybe test the waters when it comes to early retirement, plus so much more. Welcome to Your Next Dollar, the show where we help you make smarter decisions with the money you already have so you can live the life you actually want. I'm Andrew Gincola, and I am joined by my co-host, Ryan Sterling. Ryan, I am so excited for this episode.
Ryan Sterling· Host1:05
So am I. It's one of my favorite topics.
Andrew Giancola· Host1:07
So I want to dive in first to some of the common misconceptions that you see surrounding early retirement. There's a lot of information out there where we see people talking about early retirement, and for a lot of high earners, most of that information is overly simplistic. So what are some of the misconceptions that you see when you talk to clients surrounding early retirement?
Ryan Sterling· Host1:26
It's actually more attainable than I think a lot of people think. I talk