Many dream of retiring early, but you would be surprised to learn that many people who retire early regret doing so. James reveals five things that lead people to regret early retirement and provides practical tips to avoid these pitfalls.

He explains why many individuals who retire before 65 struggle due to a lack of planning, overly conservative investment strategies, and failure to envision life beyond work. He highlights the importance of aligning financial plans with personal goals, maintaining a balanced portfolio to outpace inflation, and considering part-time work as a transitional phase. He also encourages listeners to “practice” retirement before fully committing and cautions against adhering to common retirement “rules” without understanding their context. By addressing these critical aspects, listeners can make more informed decisions and transition into retirement, at any age, with confidence.

Questions answered:
Why is it important to have a life plan in addition to a financial plan when retiring early?

What lifestyle adjustments should early retirees be prepared to make to sustain their retirement long-term?

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Timestamps:
0:00 - Defining early retirement
1:15 - Not knowing what you’re retiring to
4:14 - Being too conservative
7:51 - Not considering part-time work
12:25 - Not practicing retirement
14:05 - Relying on retirement “rules”
17:26 - Being too dependent on 401(k)

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