The Great American Resignation and the Effects It May Have On Your Retirement
This episode of Better Money Boston focuses on the trend of Americans resigning from their jobs to retire or work for themselves. Joel Johnson, CFP® talks about the effects that stem from retiring early.
- Medicare doesn’t kick in until age 65. If you leave your job before then, you may have to pay out-of-pocket for a health insurance policy.
- Retiring early could cut into your Social Security benefit, as it is based on your top 35 years of earning.
- Leave your 401(k) alone as long as possible. The longer you leave that money alone, the higher it will be.
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