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20 Important Reasons You Shouldn’t Retire Early — Even If You Could

GOBankingRates Logo By Gabrielle Olya of GOBankingRates | Slide 1 of 21: Retiring early might seem like a dream come true — you’re no longer stuck to the 9-to-5 and can spend your days doing whatever you like. And thanks to the popularity of the FIRE (Financial Independence Retire Early) movement, many people are electing to leave the workforce well before 62. But even if you believe you’re financially able to clock out for good before you hit legal retirement age, this might not be the best decision — especially in light of the recent pandemic-related economic downturn, which has derailed retirement plans for many. GOBankingRates spoke to financial experts to find out the very real downsides of early retirement. Last updated: Oct. 6, 2020

Retiring early might seem like a dream come true — you’re no longer stuck to the 9-to-5 and can spend your days doing whatever you like. And thanks to the popularity of the FIRE (Financial Independence Retire Early) movement, many people are electing to leave the workforce well before 62. But even if you believe you’re financially able to clock out for good before you hit legal retirement age, this might not be the best decision — especially in light of the recent pandemic-related economic downturn, which has derailed retirement plans for many.

GOBankingRates spoke to financial experts to find out the very real downsides of early retirement.

Last updated: Oct. 6, 2020
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