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their earned income, they are also losing
out on bonuses, insurance coverage, and
employer matches on retirement accounts.
Retiring early, at a lower income level,
could also potentially reduce Social Security
benefi ts in the future.
You could have limited access to Social
Security, Medicare, and other federal
benefi ts that have age restrictions. For
example, IRAs and 401(k) plans, for the
most part, are not available to use without
penalty before age 59½. Social Security will
allow early withdrawal at age 62.
The future is unknown. Life happens and
the longer the period of time, the less
certain the future becomes. Just one really
unfortunate event could have a devastating
impact on even a well thought out plan.
Clearly, there are a number of important
questions that need to be considered
before making a full commitment to the
F.I.R.E plan, so you don’t get ‘burned.’
And even if the F.I.R.E. approach is not
for you, the discussion that takes place
around the topic is worthwhile, as it
reminds us how important it is to learn
to live on less than we earn, and to start
saving as early in life as possible. Being
disciplined enough to put money aside to
work for you as soon as possible, will bet-
ter position you to maintain your lifestyle
throughout your retirement years. If you
are ready to put together a personalized
plan that is designed to lead you to a suc-
cessful fi nancial future, talk to a qualifi ed
Financial Advisor, sooner rather than later.
GILROY • MORGAN HILL • SAN MARTIN
february/march 2019
gmhtoday.com
The author’s opinions, com-
ments, information, etc. are
those solely his own and
are independent of, and do
not represent, HTK, and
should not be considered as
specific investment or plan-
ning advice. Please consider
your options based on your
individual circumstances.
Past performance is not
indicative of future returns.
Gilroy Today and other listed
entities are independent of
and unaffiliated with, HTK
and Integrated Financial
Benefits Network.
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