Find a job you enjoy doing, and you will never have to work a day in your life. If you are one of the lucky ones, even a job you enjoy doing can become tedious after many years. If you’re grinding through your days, what do you do? Launch a new career, or plan for early retirement? The U.S. Census Bureau states that the average retirement age in the United States is 63 years old.
One of the biggest challenges to early retirement is figuring out how to pay for health care. Regarding health care coverage, “early” retirement would be before age 65, at which time most Americans become eligible for Medicare. You’ll pay a hefty premium until you become Medicare-eligible. If you’re exiting the workforce before age 65, plan on budgeting $500 to $1,000 a month per person to purchase health insurance. Once on Medicare, you still pay premiums, but … Read More