4 Moves to Make This Year if You Want to Retire Early

Some people plan to work well into their 60s or even beyond. But if you'd rather retire on the early side -- say, the first half of your 60s or even your late 50s -- then it'll require some careful planning on your part. Here are a few critical moves to make this year if you're hoping to leave the workforce sooner rather than later.

Social Security won't provide enough income for you to live comfortably as a senior. These days, the average beneficiary receives a little over $18,000 a year. If your goal is to retire early, you'll need to make sure you have enough independent savings to support your senior lifestyle, and so the sooner you start getting closer to maxing out your IRA or 401(k) plan, the more likely you'll be to exit the workforce when you want to.

Image source: Getty Images.

Continue reading

Source Fool.com