Take Back Retirement


Episode 19

You Want to Retire Before Age 65? Here’s What You Need to Know

19: You Want to Retire Before Age 65? Here's What You Need to Know

Retiring “early” is a process that contains many more moving pieces than most people think. In this episode, we tackle these factors one-by-one and offer some advice on how to cover all your bases before taking the plunge into retirement.

The first question we have to address is, why 65? It’s true that, historically, Social Security kicked in once you turned 65 and so did a number of pension plans (you know, the ones your grandparents might have had). But today’s realities are different to what they were decades ago.

Listen in and learn how to determine what your lifestyle is going to cost upon retiring and what you need to understand about Medicare, Social Security, and other programs going into retirement. We also touch on the three key assets and how to prepare them in covering your short- and long-term goals: your retirement accounts, your non-retirement assets, and your illiquid assets.

Click here -> Sofia Personal Inventory Sheet for the Personal Financial Inventory sheet mentioned at 20:23 of the episode.

Read the article on the EBRI study mentioned by Stephanie.

“Retirees are overly optimistic about their financial future” on MarketWatch

Learn what is considered the full retirement age by birth year at


Check out our previous episodes for more information on this topic.

Thinking Beyond Retirement:

04: Give Yourself Permission to Plan Your Next Chapter, with Randi Levin

08: Retirement is More than Money with Autumn Nessler

Retirement Spending:

05: A Simple Framework for Thinking About Retirement Expenses

Social Security Basics:

15: What Women Need to Know About Social Security

Since we chatted about Kevin’s dogs in the episode, we thought we’d include a couple photos:

Please subscribe and share with your friends who are in the same situation!

Key Topics

First of all, why 65? (1:26)

The first question we ask any of our clients who want to retire at 65 (2:38)

What to know about Medicare eligibility and retirement (04:22)

Why 65 is no longer the magic age for claiming Social Security benefits (6:33)

Know your assets and expenses (8:24)

“What is the least amount that I have to do until I can figure out what I can do?” (10:08)

Why you shouldn’t rely on your savings or Social Security checks (11:58)

What people often miss when it comes to their retirement assets (14:24)

Utilizing your taxable savings (17:48)

What to do to retire before 59 1/2 (19:04)

Addressing your short- and long-term needs around with your investments (21:05)

Are your savings enough for what you want to do upon retirement? (24:36)

What could go wrong with your plan? (28:18)

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