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Are you on track to retire early?
Consider seven key signs that suggest youre radically off track and that your earlyretirement plan will fail.
This means homing in on needs versus wants and tracking your expenses.
Your Housing Situation Is Up in the Air
Do you know where you will live once retired?
Will you be able to comfortably afford it?
If you dont have your retirement housing squared away, its time to get it sorted out.
Although, it can be hard to predict what rent prices will look like decades from now.
Retiring early requiresquite the hustle, Kullberg said.
Saving to retire at the standard age is challenging, especially with how long we live these days.
You Have No Plan for Earning Income in Retirement
And savings arent enough.
You need good money coming in, even once youre not working.
Living off your savings for decades can be really difficult and unattainable for most people, Kullberg said.
you should probably have a plan to earn income during retirement.
You Havent Saved For Rising Healthcare Costs
Many retirees are completely unprepared for healthcare costs in retirement.
But many parents or other caregivers end up helping out their kids well into adulthood.
Without planning for these potential expenses, you may find that your savings run out faster than anticipated.
If youre not well diversified financially, early retirement could remain a pipe dream.
Diversifying your income streams may help to deter these risks.
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