Extension Publication Helps Workers Consider Early Retirement Options
AMES, Iowa – Most workers look forward to retiring, and ideally get to choose when to retire. Sometimes an employer will suggest early retirement. An Iowa State University Extension and Outreach publication helps employees with early retirement decisions.
“When people consider early retirement, they know it’s a big decision,” said Barbara Wollan, ISU Extension and Outreach family finance specialist. “This publication addresses critical factors that potential early retirees need to understand.”
According to Wollan, retirement projections have needed to change over the past 20 to 30 years.
“Increasing life expectancies are a major reason that early retirement needs to be approached with care,” Wollan said. “Several generations ago, the average worker had little or no retirement, but now many people are retired for 25 to 30 years. Before deciding to retire early, consumers need to be aware of the impact a long retirement will have on their finances.”
Considering Early Retirement (PM 1827), is part of the Retirement: Secure Your Dreams series, available from the Iowa State University Extension and Outreach online store. The publication helps readers think through the implications of early retirement. It touches on many important topics including other employment options and health insurance, in addition to making realistic financial projections. It also identifies several other reliable resources useful to potential retirees.
“This ISU Extension resource enables workers to be well-informed when making the important decision of when to retire,” Wollan said.