Delaying retirement has become common for many Americans, either because they saved too little or they just want to continue working because they enjoy it.
Others go in the opposite direction. They retire early – sometimes out of choice but often because their health or the economy forces it.
While early retirement might sound appealing, it can be a struggle for those who don’t have sufficient income to pay their bills. That is why if you are weighing the pros and cons of early retirement, you need to get a good handle on your potential sources of income.
You may find you lack what you need – an especially unnerving conclusion if early retirement isn’t really a choice.
But don’t despair just yet. It’s also possible you have more income options than you realize. Those can be broken down into the categories of bridge income, fixed income, guaranteed income, and speculative income.