Retirement Planning
5
min read
Amanda Gile
July 21, 2025
Early retirement can give you more time to enjoy your hobbies, friends, and family, but it comes with trade-offs. Namely, you need to figure out how to make your money last 30 or more years, which can be increasingly challenging as you age.
This article explains what early retirement means and how to do it sustainably. No matter when you step away from the workforce, we’ll help you assess the risks and opportunities and show how Gainbridge can support your retirement income strategy.
Early retirement means leaving the workforce before the traditional age of 65. Strategies vary from aggressive savings plans like FIRE to simply putting enough aside to step back a few years ahead of schedule.
Technically, you can retire as early as you’d like, but your age directly affects which benefits you’ll be eligible to receive:
Successful early retirement planning involves managing your savings and generating income other than traditional paychecks.
Before committing to early retirement, here are a few advantages and disadvantages to closely consider.
Retiring before 65 takes more than just savings — it requires a comprehensive retirement strategy. If you're serious about stepping away from full-time work early, here are five key steps to help make that goal a reality.
Early retirees need to fund more retirement years than average, possibly 30 or more. That means doubling down on your savings while you're still earning. Max out retirement accounts, and consider annuities to expand your investment base and secure a more stable retirement income. The earlier you start, the more you can benefit from compound growth and solidify peace of mind.
Creating a sustainable withdrawal plan is critical. Map out your income sources, including Social Security, retirement accounts, and annuities, and compare them to anticipated expenses. Your savings and continued income need to maintain your lifestyle, or at least the basics, for a successful early retirement.
To stretch your savings, consider conservative withdrawal strategies like the 4% rule. But stress test your plan against long lifespans, inflation, and market volatility.
Healthcare is often the biggest wildcard in early retirement. Without employer-sponsored coverage or immediate access to Medicare, you’ll need a solid plan.
Research private insurance options early. Explore ACA marketplace plans, COBRA if available, and high-deductible health plans paired with an HSA. While researching, keep in mind that costs can vary widely based on your age and location.
If you're retiring as a couple, factor in coverage for both of you. Healthcare for two can rival or even surpass your housing expenses.
You don’t have to quit work altogether. Freelancing or reducing your hours can give you more free time while preserving your savings. Many people also stay employed, even minimally, to stay mentally and physically active.
The less you owe, the better. If possible, prioritize paying off high-interest debt, and consider eliminating large fixed costs, like mortgages and car payments. This gives you more flexibility with your post-retirement cash flow and protects your nest egg from unnecessary strain.
Below are a few financial and logistical requirements to consider before retiring:
No matter when you retire, one of the biggest concerns is outliving your money. If you're looking for stable retirement income, Gainbridge’s digital-first annuities can help deliver peace of mind. We offer multiple products to secure your financial future and never charge hidden fees or commissions.
Build a retirement strategy that fits your timeline with Gainbridge.
This article is intended for informational purposes only. It is not intended to provide, and should not be interpreted as, individualized investment, legal, or tax advice. The GainbridgeⓇ digital platform provides informational and educational resources intended only for self-directed purposes.
Annuities issued by Gainbridge Life Insurance Company, Zionsville, Indiana.
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Early retirement can give you more time to enjoy your hobbies, friends, and family, but it comes with trade-offs. Namely, you need to figure out how to make your money last 30 or more years, which can be increasingly challenging as you age.
This article explains what early retirement means and how to do it sustainably. No matter when you step away from the workforce, we’ll help you assess the risks and opportunities and show how Gainbridge can support your retirement income strategy.
Early retirement means leaving the workforce before the traditional age of 65. Strategies vary from aggressive savings plans like FIRE to simply putting enough aside to step back a few years ahead of schedule.
Technically, you can retire as early as you’d like, but your age directly affects which benefits you’ll be eligible to receive:
Successful early retirement planning involves managing your savings and generating income other than traditional paychecks.
Before committing to early retirement, here are a few advantages and disadvantages to closely consider.
Retiring before 65 takes more than just savings — it requires a comprehensive retirement strategy. If you're serious about stepping away from full-time work early, here are five key steps to help make that goal a reality.
Early retirees need to fund more retirement years than average, possibly 30 or more. That means doubling down on your savings while you're still earning. Max out retirement accounts, and consider annuities to expand your investment base and secure a more stable retirement income. The earlier you start, the more you can benefit from compound growth and solidify peace of mind.
Creating a sustainable withdrawal plan is critical. Map out your income sources, including Social Security, retirement accounts, and annuities, and compare them to anticipated expenses. Your savings and continued income need to maintain your lifestyle, or at least the basics, for a successful early retirement.
To stretch your savings, consider conservative withdrawal strategies like the 4% rule. But stress test your plan against long lifespans, inflation, and market volatility.
Healthcare is often the biggest wildcard in early retirement. Without employer-sponsored coverage or immediate access to Medicare, you’ll need a solid plan.
Research private insurance options early. Explore ACA marketplace plans, COBRA if available, and high-deductible health plans paired with an HSA. While researching, keep in mind that costs can vary widely based on your age and location.
If you're retiring as a couple, factor in coverage for both of you. Healthcare for two can rival or even surpass your housing expenses.
You don’t have to quit work altogether. Freelancing or reducing your hours can give you more free time while preserving your savings. Many people also stay employed, even minimally, to stay mentally and physically active.
The less you owe, the better. If possible, prioritize paying off high-interest debt, and consider eliminating large fixed costs, like mortgages and car payments. This gives you more flexibility with your post-retirement cash flow and protects your nest egg from unnecessary strain.
Below are a few financial and logistical requirements to consider before retiring:
No matter when you retire, one of the biggest concerns is outliving your money. If you're looking for stable retirement income, Gainbridge’s digital-first annuities can help deliver peace of mind. We offer multiple products to secure your financial future and never charge hidden fees or commissions.
Build a retirement strategy that fits your timeline with Gainbridge.
This article is intended for informational purposes only. It is not intended to provide, and should not be interpreted as, individualized investment, legal, or tax advice. The GainbridgeⓇ digital platform provides informational and educational resources intended only for self-directed purposes.
Annuities issued by Gainbridge Life Insurance Company, Zionsville, Indiana.