Job Loss Affects Retirement Plans
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retirement incomeSmartAsset
•Ask an Advisor: Does $4.6 Million Make for a Comfortable Early Retirement at 55?
80% Informative
After a recent job loss, I’m unfulfilled in my new role and considering retiring in January 2025 at age 55 .
My wife, 56 , works part-time and we’ll switch to her health insurance next summer until she retires in two to three years .
In total, we have almost $4.6 million in combined assets, including $ 519,000 in savings and around $1.85 in taxable joint investments.
Your current age is the ideal time to look into long-term care insurance.
Consider how you plan to cover healthcare expenses for the six or seven years after your wife retires and before Medicare starts.
If you do not already have life insurance, you should consider policies for you and your wife.
Loraine Montanye , CFP , AIF , is a SmartAsset financial planning columnist and answers reader questions.
Got a question you’d like answered? Email [email protected] and your question may be answered in a future column.
VR Score
76
Informative language
71
Neutral language
59
Article tone
informal
Language
English
Language complexity
48
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Attention-grabbing headline
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Time-value
long-living
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15
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4
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